Photo: Pagosa Springs Elementary School. Property tax revenues constitute only a small part of PSMC revenues — about $2.4 million, in a $50 million annual budget — but without those tax revenues, the hospital would struggle to keep its doors open. The presentation by the New Bridge Strategy consultants last month quantified the potential property tax increase as a minimal amount. Looking at my own situation — in a home assessed at $620,000 — my annual property taxes would increase by about $420. The entire Pagosa Springs High School, with its community auditorium and its athletic fields, was built in 1997 for $12 million.