Keystone To Become Colorado's Newest Town
This Tuesday, the voters of Keystone passed a mandate to incorporate and become Colorado's newest town by a margin of 2-1. Home to Keystone Ski Resort, the Keystone area has long been managed as a part of unincorporated Summit County. The March 28th vote was the cummulation of years of conversation and campaigning by community members. So what does this mean for the Keystone area? Keystone still has a great deal of work ahead as the community now undertakes the momentous task of drafting a town charter.
We anticipate Keystone's new government to be inaugerated no earlier than 2024. Per Colorado Statue, Summit County will continue to administer the Keystone area for one year, or until the new town first collects taxes. The charter will likely be put to a vote in late summer or early fall. Whether or not the charter can be affirmed within two votes will decide whether Keystone becomes a home-rule municipality or a statutory town.
Proponents of incorporation are primarily focused on growing the community's influence when negotiating with large organizations such as Vail Resorts and Colorado DOT, as well as improving pedestrian infrastruture and safety throughout the new town limits.
The logistics of funding the new town will surely be the biggest issue for the charter committee to tackle, as funds will need to be raised through new tax infrastructure. The official Keystone Incorporation Committee website states:
There is a perception that property taxes will either immediately or eventually increase once Keystone incorporates. If we incorporate, only a vote by registered voters in Keystone could raise taxes...Keystone, as a resort community with a large sales tax base and thousands of rental units, is in a unique financial position in that Keystone has existingsources of revenue before it would ever look to implement a property tax.
Future funding proposals for the new town include instituting a lodging tax and a lift ticket tax, along with converting existing tax revenue streams.
The biggest question on many of our Keystone clients' minds is 'will Keystone further restrict short-term rentals'? Thankfully, the answer is no as the Keystone community has championed the benefits of short-term rentals throughout the last few years. The Keystone Incorporation Committee affirms "Keystone was founded as and remains primarily a Resort Community whose viability is built and dependent on short term rentals". Incorporation will mean short-term rental permits or licenses will eventully be managed through the new town of Keystone instead of through Summit County. There will likely be different permit rules and fees, but we don't anticipate any dramatic change.
Proponents of the new town have also committed to investing in workforce housing. Keystone has the highest volume of dedicated workforce housing of any community in Summit County. The Incorporation Committee hopes that keeping funds more local will improve housing availability and allow Keystone to invest more in lowering workforce housing costs.
Keystone residents, property owners, and community stakeholders can follow developments via the incorporation website: incorporatekeystone.wildapricot.org.
Even if you are not a registered Keystone voter, there will be opportunities to give input, share what issues matter to you, and advocate for your vision for the community.
Between skiing powder days in the North Peak trees to teeing off at the Ranch, Keystone has long been a favorite community of ours. This will be an exciting time for our newest Summit County town, and we look forward to seeing what comes next!
If you have any questions about what incorporation might mean for your Keystone home, please reach out at any time.
More Incorporation Resources:
Keystone Incorporation Short-Term Rental Considerations
Keystone Incorporation Taxation Considerations
Colorado Municipal League - Home Rule Overview
Colorado Revised Statues 2020 - Title 31 Government - Municipal
Colorado Constitution - Article II Sec. VI (pg 100)
Comparing Home Rule & Statutory Municipalities
Categories
Recent Posts