Metropolitan districts are independent units of government granted authority through the state of Colorado and are formed to provide certain services within their boundaries. Metropolitan districts, or “metro districts,” have the authority to issue tax-exempt bonds to finance infrastructure construction and impose property taxes as a mechanism to repay the bonds. An elected board governs a metro district, adhering to requirements for transparency, accountability and fiscal responsibility. The Colorado Department of Local Affairs serves as a resource for Metro Districts and is the repository for required filings and disclosures.
For many years, the city of Aurora has approved formation of metro districts in Aurora because the city’s leadership has supported metro districts as a mechanism to finance and construct necessary public infrastructure to support new development. While the city does not assume any of the rights or responsibilities of the metro districts, the city has required new metro districts to adhere to the city’s Model Service Plan since 2004.
The model includes features and protections to limit the amount of tax burden allowed on each home or business within a metro district, including:
• Maximum property tax mill levy
• Maximum mill levy imposition term
• Limitation on privately placed debt
The following five tabs of information (scroll down for all information) provide further detail on metro districts and offers links to information at the state and the city: