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Residents of Golden should realize that as the Colorado School of Mines continues to expand, the City of Golden loses both residential and commercial properties. Not only does the city need commercial/business space and residential space but also the city loses land within the city’s property tax base.
In the recent past, Mines has purchased the commercial property at 1301 – 19th street (US 6 and 19th) street which property is now tax exempt but they have also purchased the office building at 1600 Jackson Street (and the adjacent parking lot) and these properties will become tax exempt in 2018.
Moreover, some years ago when the county took over the large site that was planned as an office park (which is now the county complex) this city land became tax exempt.
Furthermore, residents may already be aware that Coors de-annexed the brewery from the city many years ago so that business complex is not part of the city’s tax base either.
With the losses of property from the city’s tax base, the additional tax burden will fall on the rest of the city’s property owners.
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