Buena Vista, Colorado Greater Buena Vista Area Chamber of Commerce Community Profile & Relocation Information Churches Education Government Health & Medical History Miscellaneous Organizations Statistics

Demographics, Taxes, Business & General Relocation Info

Housing Costs | Chaffee County Sales Tax | Buena Vista Tax Information
Demographics | Colorado State Enterprise Zone
Small Business Development Center (SBDC)

Buena Vista is in the fifth year of a projected six year growth cycle due to relocation and tourism and as a result housing costs have increased a great deal. Due to vast amounts of National Forest and State lands, there is only 17% of theland available for development. The average sale price for homes in the Buena Vista city limits is currently $100,617. In the county surrounding Buena Vista the average sale price for homes is $151,061. The more land, the more trees and the closer proximity to bodies of water all are significant factors in increasing sale prices. The average cost of building a custom home is $80 to$90 a square foot (not including land). Custom log homes cost around $120 a square foot. The cost to drill a well for a home built outside the city limits will run between $25 and $30 a foot. There are subdivisions outside the city limits with their own central water supply. For more information you may want to call and talk to a realtor listed on page 65-66 of this book.

The growth both in tourism and relocation is also evident in a substantial increase in sales tax. The following statistics reflect that growth:

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1994	1995	1996	1997	1998 (as of 8/98)
$1,195,899	$1,313,290	$1,464,107	1,479,643	$1,007,574

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Property Tax Mill Levies (as of 1997) R-31 School District 38.494 Town of Buena Vista 9.440 Total of other Mill Levies within Buena Vista 18.952 Total Average Combined Mill Levies within Buena Vista 66.886

Retail Sales & Use Taxes State 3.0% Buena Vista 2.0% Chaffee County 2.0% Lodging 1.9%

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Population (approximate) Buena Vista (in city limits) 2,150 Buena Vista North County Area 2,850 Total 5,000 Chaffee County 15,000+

Employment Major source of income is: tourism, trade, prison, City & County Government, and schools

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Here Princeton, Harvard, and Yale are Fourteeners not Ivy Leaguers.

What is a State Enterprise Zone?

An enterprise zone is defined as an economically distressed area of Colorado in which special tax incentives area offered to businesses that expand or locate in the zone. The purpose of the tax incentives is to create new jobs and investments in the zone.

The enterprise zone program was created by the Colorado legislature as of July 1, 1986. Since that time, the Colorado Department of Local Affairs has designated 16 areas as Colorado enterprise zones.

Specific locations within Chaffee County, Buena Vista, Poncha Springs and Salida are in the Upper Arkansas Enterprise Zone (UAEZ).

Areas of inclusion:

With the exception of the residentially zoned area of the incorporated municipalities (Buena Vista, Poncha Springs and Salida), the remaining lands of the municipalities and county are in the UAEZ. Inquire with the municipal land use/zoning office as to the existing land use zoning to determine location within the UAEZ.

What are the tax incentives/credits available in the enterprise zones?

Colorado enterprise zones provide state tax incentives to businesses located in the zone, particularly for new or expanded businesses.

Not all businesses qualify for all the tax incentives. Refer to the individual FYI publications. The tax credits are:

1. Investment Tax Credit for business located in a Colorado enterprise zone. See FYI income 11 for more information about this credit.

2. New Business Facility Jobs Credits. Credits are available for new or expanded business facilities located in an enterprise zone that create new jobs. See FYI Income 10 for more information about these credits.

3. State Sales and Use Tax Exemption for Manufacturing and Mining Equipment used in an enterprise zone. This exemption is for equipment used directly in the manufacturing or mining (including oil and gas) process. It applies to state sales and use tax and state-collected local sales tax. See FYI Sales 10 for more information on the manufacturing equipment exemption and FYI Sales 69 for more information on the mining equipment exemption. 4. Research and Development Tax Credit for research and development carried on in an enterprise zone. For tax years beginning on or after Jan. 1, 1989. See FYI Income 22 for more information about this credit.

5. Tax Credit for Private contributions to Enterprise Zone Administrators. For tax years beginning on or after Jan. 1, 1989. See FYI Income 23 for more information about this credit.

6. Tax Credit for the Rehabilitation of Vacant Commercial buildings located in an enterprise zone. For tax years beginning on or after Jan. 1, 1989. See FYI Income 24 for more information about this credit.

7. Qualified Job Training Program Investment Credit for taxpayers who invest in a training program. See FYI Income 31 for more information about this credit.

How will certification be issued?

The zone administrator will issue certification to each business located within the zone that such business is in the zone. The business must attach a copy of the "Enterprise Zone Certification of Qualified Business" form (DR 0074) to its Colorado income tax return if the business is claiming an enterprise of $450 or more.

Who is the UAEZ Administrator?

Jeff Ollinger, Zone Administrator, mailing address is P.O. Box 1212, Buena Vista, CO 81211. The phone number is 719-395-2602.

How do I obtain detailed information?

Order the Taxpayer Service Division "FYI" by writing to the Colorado Department of Revenue, 1375 Sherman St., Denver, CO 80261; or by calling the Dept. of Revenue's Forms Hotline at (303) 232-2414. Provide specific FYI number referenced in this general information sheet.

Locally, the Chamber of Commerce has a "desk reference" on the tax incentives. Interested persons may review the reference in the Chamber office and ask for copies of specific items of interest. For on-line access to Department of Revenue "FYI" publications, http://www.state.co.us/gov_dir/revenue_dir/fyi_index_rev.html

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Colorado Mountain College's Small Business Development Center (SBDC) offers many services for local people thinking about starting a business or in the process of rethinking the way they do business. The SBDC has trained business advisors to provide personal and group business counseling on business start-up and acquisition, market analysis and planning, cash flow management, financial analysis and loan packaging. All information is confidential and counseling services are free of charge.

To make an appointment for business counseling, contact the SBDC at CMC, Buena Vista campus at 719-395-8419 or Susanna Spaulding, Business Advisor for Chaffee and Lake counties directly at 719-539-6155.

Please note that the Small Business Development Center of Colorado Mountain College is one of over 18 centers in Colorado that link federal, state, and local resources. This network of services helps new and established business owners and entrepreneurs achieve success. In addition to business counseling, the SBDC staff in conjunction with local professionals and nationally known speakers conduct workshops and seminars on a variety of topics. The SBDC also offers customized training programs for companies and a speaker's bureau for keynote addresses or rounding out a panel.

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