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BRECKENRIDGE, Colo.—The Breckenridge Town Council is considering increasing the mill rate to offset a decrease in property values and tax revenues that will hit next year.
The tax hike will bring in approximately $171,000 next year. Supporters want the money to help prevent cuts to the town’s child care scholarship program.
According to the Summit Daily News ( ), next year’s property tax collections will be the first to reflect the impact of the recession on the housing market because tax collections are based on property values two years ago.
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Information from: Summit Daily News,
