Jim Garcia Voted as a Board Member for Metro District #1 in The Meadows of Castle Rock Colorado
Jim Garcia, Top Castle Rock CO Real Estate Agent
Jim Garcia has been investigating the Metro Bond Tax for 5+ years and recently became a Board Member for Metro District #1, The Meadows of Castle Rock Colorado
After making a presentation to the board members for Metropolitan District #1 in August 2024 as to why the bonds and the tax should be eliminated completely, Jim was voted as a board member at the following meeting.
As a newly elected representative, Mr. Garcia will make a formal presentation at the next board meeting in 2025 with the legal filings and financial overviews to support that position. He encourages all interested parties to attend. If you want to help and be involved, email Jim Garcia at jim@jimgaciahomes.com or call him at (720) 385-4497.
Jim states - It has taking me many years with many repeated requests to obtain the agreements and legal filings, which Castle Rock and Douglas County state that they do not have in their possession. I have them in my possession and here is the simple truth. There are about 7,500 homes in The Meadows paying about $2,700 per year in metro bond property taxes plus the commercial properties. That rounds up to about $20m+ per year in collected and paid taxes since 1991 for a $57m expense in the 1980s.
As of December 31, 2023 the bond holders are requiring an additional $480m in tax revenue with accruing interest to June 2029. As it currently resides, tax collection and bond holder payments will continue through the year 2090+. The original $70m, 7.99% interest bonds from 1993 have been paid in full. This tax needs to be eliminated and that is why I have volunteered to be on this board.
With the help of the board, Jim Garcia plans to spear head a task force to repeal the metro bond tax, stop this tax, and replace the metro district #2-7 board members with property owners as dictated by law, which is not being enforced by our local government. Metro Board 2, Metro Board 3, Metro Board 4, Metro Board 5, Metro Board 6, and Metro Board 7 are not represented by the homeowners as dictated by law. The Town of Castle Rock, Douglas County Colorado, and the State of Colorado refuse discuss this issue. Repeated attempts to discuss this issue have been continually dismissed. Jim Garcia, as a newly elected board member to Metro Board #1, welcomes any conversation to address this issue.
As a resident of The Meadows trying to understand why a $57m project costs $20m/year in taxes for 100+ years, Jim Garcia has been requesting and reviewing as many documents as he has been able to obtain over the years from numerous sources. Source of the documents include a CORA (Colorado Open Records Act) request with the Town of Castle Rock, State of Colorado Department Of Legal Affairs (DOLA) website, and the law firm, which crafted the legal filings and continues to represent the metro bond entities.
Douglas County retains 1.5% of the collected revenue. ($20m x .015 = $300k per year).
ABOUT JIM GARCIA
Jim is an ex-CEO, business owner, & entrepreneur in the top 1.5% of all real estate agents nationwide. Jim and his family have been residents of The Meadows in Castle Rock, CO since 2006. His specialty areas are Douglas, Elbert, Arapahoe, and Pike Peak Counties. Jim has been awarded one of the Best Real Estate Agents in America and one of the Best Real Estate Agents in Colorado by Realtrends, and is a Master Certified Negotiation Expert in Real Estate.
With over 30 years of experience as a senior business executive including merger and acquisitions, Jim Garcia brings his expertise to real estate with knowledge in construction, foreclosures, contract negotiations, 1031 exchanges, short sales, investment properties, and much more.
If you have a simple or complex situation, Jim Garcia can help advise you on your journey. Whether you are looking for homes for sale in The Canyons Castle Pines, real estate in Elizabeth Colorado, or Castle Rock homes for sale and around the surrounding areas, Jim Garcia, one of the best Real Estate Agents in Douglas County Colorado, can be a great resource for your real estate needs.
Jim Garcia
Realtor
James Garcia
Jim Garcia - Realtor
+1 720-385-4497
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