In Colorado, a 'metropolitan district' is primarily used to:
Why B. Finance and provide public infrastructure (water, sewer, roads, parks) for new developments, with costs repaid through property tax mill levies on the homes in the district Is Correct
Answer B: B. Finance and provide public infrastructure (water, sewer, roads, parks) for new developments, with costs repaid through property tax mill levies on the homes in the district
In Colorado, a metropolitan district is a special district that provides two or more services such as water, sanitation, street improvements, parks or recreation, fire protection or safety protection (C.R.S. 32-1-103, 32-1-1004), and it may be authorized to issue debt repaid through a debt service mill levy on taxable property in the district. Under C.R.S. 38-35.7-110, a seller of a newly constructed residence inside a metropolitan district must give the purchaser, at or before contract signing, the district's notice to electors, service plan and a written statement about debt authority and mill levies.
Source: Colorado Revised Statutes 2023, Title 32 (32-1-103) and Title 38 (38-35.7-110)
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Key Terms to Know
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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