Treasurer says county investments steady, property tax collections roughly in line with last year

Leslie Black, Mineral County treasurer, told the commissioners at the May 18 workshop that the county’s investment portfolio is performing at roughly the same level as last year, with a reported average yield near 3.48% across accounts. She said the majority of county funds remain in ColoTrust, with some bond accounts and certificates of deposit used to limit volatility.

“Last year average was about 3.48 and we’re about that same average across all accounts,” Black said. She described a new account (“the edge”) being rolled out by ColoTrust that is intended to offset swings between their main cash product and other offerings.

On property taxes, Black said collections are “about even” with the prior year, noting the county is roughly 2% behind last year’s percentage of collections at this point in the season. She said second-half payments are due in mid-June. Commissioners and Black discussed taxpayer confusion driven largely by actions outside the county — school district levies and state valuation changes were cited as key drivers of higher bills for some property owners.

Commissioners asked Black to provide a count and remaining years for outstanding local improvement district (LID) assessments; Black agreed to supply that information. She also said a software issue earlier in the year slowed collections but had been patched.

The treasurer’s update closed with a reminder to taxpayers to verify ad classifications to avoid unintended tax changes; no formal action was taken at the workshop, and commissioners indicated they expected to move forward with any follow-up requests at the regular meeting.