Insights by Bethany Cronk (2)
Local government authorities use property tax revenues to fund services including police and fire protection, hospitals, transportation, and schools for municipalities. For tax purposes, property is considered residential or nonresidential, with nonresidential property constituting commercial businesses, farms, ranches, and oil/gas operations.
Economic conditions in Downtown Colorado Springs have languished throughout the Dot.com bust, oil and gas cycles, and recessionary periods as far back as the mid-80s. While several of the Springs' suburban areas have experienced significant growth in the commercial, industrial, residential, retail, and lodging sectors, Downtown has illustrated comparatively few signs of recovery.
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