Rate would cover projected $9 million budget shortfall
Ahead of the expected June 5 adoption of the Fiscal 2019 budget, the county government must advertise any proposed tax rate that exceeds the state-calculated constant yield rate of 82.7 cents per $100 of a property’s assessed value.
The Worcester County Commissioners approved the advertisement on Tuesday, including a tax rate that would cover the entire budget as it stands now — with a gap of almost $9 million gap between revenues and expenditures.
To cover that difference, a tax rate of 88.6 cents per $100 assessed will appear in the advertisement, but it is unlikely to remain that high. For the past four years, the commissioners have adopted a rate at or near the constant yield figure, and have not increased taxes to cover a shortfall in the proposed budget.
The rate shown in the ad would be an increase of 5.9 cents above the current rate of 83.5 cents per $100 assessed value, which was set in 2015. The commissioners also increased the income tax rate that year, with the rate going from 1.25 percent to 1.75 percent.
The commissioners have only begun to review the proposed budget and have yet to make changes to the documents developed by department heads and staff.
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10 comments:
Cut the budget. Stop with the unfunded liabilities you can’t pay for!
More proof Maryland is a tax hell!
God help you, if you happen to live on a fixed income!
Less services and higher taxes will lead to a push back.
That's happening now in Wicomico with the BOE asking for more money and a higher tax burden on the residents to pay for it.
There comes a point when can no longer pay, so you either lose your home to a tax foreclosure, or you just walk away from it and move somewhere else.
That is happening right now in this state as well as California and New Jersey. You can't keep taxing and spending and expect the state or your community to prosper.
Dave T: More politicians who can't handle money, some things never change.
I'd tell the commissioners to sharpen their pencils and go back to work. I can't believe they can't find a way to cut 9 million $$ from the budget.
Why is there a GAP? Need stats to show WHY before any raise takes place. Must hold those accountable with OUR tax dollars!
these meetings are not on video either for you to see them
This is absurd. What is wrong with this county? And if you live in OC you get double screwed. The regular meetings are now online, it reminds me of mayberry watching them. The county government should fold and let Ocean City run the county because they actually know what they are doing. Unlike these idiots.
stop your whining. you got one of the lowest piggyback tax rates in the state! cry me a river! you also have a ton of individuals making over 100K a year in OC!
Move if you don't like it.
1050 - have a ton of individuals making over 100K a year in OC!
Your point?
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