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Category: Budget

County Budget Listening Sessions

The session in the northern part of the county is Tuesday February 7th 7:00 p.m. at Laurel Senior High. County Executive Rushern L. Baker, III invites residents and businesses to attend a public meeting on Tuesday, January 31st, 7:00 p.m. at Oxon Hill High School, 6701 Leyte Drive in Oxon Hill, MD. This is the […]

Tuesday January 31st, 2017 in Budget, County | No Comments »

Residents May See a Lower Property Tax in FY2018

At last night’s Council meeting, the City Council had the first meeting about the budget for FY2018. For Real Estate Property Taxes, City’s goal is to maintain a constant yield in order to maintain revenue neutrality for FY 2018. This would effectively provide a decrease in the Real Property tax rate for many of our […]

Wednesday January 18th, 2017 in Budget | No Comments »

City Projects $1.6 million More Revenue in FY 2017

College Park is are currently projecting approximately $1.6 million more in revenue than originally budgeted. According to City’s Finance Director, the primary drivers for the additional revenue are: – $250,000 and $150,000 more from Real Estate Property Tax and Personal Property Tax, respectively; – $600,000 more from State Income Tax ($432,000 of this due to […]

Saturday January 14th, 2017 in Budget | No Comments »

Council to Vote on Reducing City’s Homestead Tax Credit to 2%

At tonight’s Council meeting, the Council Council will decide whether to reduce City’s Homestead tax credit to 2%. Currently, the tax credit rate is set at 4% At the October 4, 2016 Worksession, Council discussed this item and staff provided cost estimates for lowering the City’s Homestead Tax Credit Rate from its current rate of […]

Tuesday October 11th, 2016 in Budget | No Comments »

Council to Weigh In Many Budget Changes – Including Lowering Property Tax Rate

At tomorrow’s Council meeting, the City Council will consider a number of amendments to the proposed budget changes, including a proposal to lower the real property tax rate. There are 7 proposed amendments to the budget that will be discussed by Council: 1) Reduce the real property tax from 0.335 to 0.325 per $100 of […]

Monday May 23rd, 2016 in Budget | No Comments »

Top Dollar Items Added to New FY17 Budget

  Here is a list of budget items that have been added to this year’s budget. Please let me know if you have any questions. Budget Item Amount 1 C.I.P. transfer to City Hall Expansion $952,410.00 2 C.I.P. transfer to Randolph Macon Avenue $126,050.00 3 New roof and HVAC system at Youth & Family Services […]

Monday May 16th, 2016 in Budget | No Comments »

Your Tax Bill: How Much You Pay Now, How Much More You May Pay Net Year

It’s budget time in College Park. The City Council will be holding a Public Hearing tonight whether it should lower your tax rate to compensate some of the increase in your tax bill next year. The hearing will take place at the City Hall (4500 Knox Road, Upper floor) at 7:30pm. In case you cannot […]

Tuesday May 10th, 2016 in Budget | 3 Comments »

City Wants to Hear from You About the Tax You will Pay Next Year

In the next fiscal year (starting July 2016), you will be paying more tax on your property. The increase is due to the fact that the triennial assessment of our properties is expected to go up. We plan to keep the tax rate the same – 33.50 cents per $100 of your property. Our municipal […]

Saturday May 7th, 2016 in Announcements, Budget | No Comments »

FY 17 Budget – What is New for North College Park?

We attended the second and the final fiscal year 2017 budget worksession this past Saturday. The new budget will have a few items specifically assigned to north College Park residents. They include: A pedestrian crossing (RRFB) signal on Rhode Island Avenue (potentially at the Indian / Fox intersection) oney for the construction of the streetscape […]

Monday April 18th, 2016 in Budget | 3 Comments »

Budget Town Hall Meeting – April 29

Please mark your calendar, Council members from District 1,2 and 4 will be hosting a budget town hall meeting on Friday, April 29 to discuss proposed changes in FY 17 budget. Please see below for details

Tuesday April 12th, 2016 in Announcements, Budget | No Comments »

Highlights of Changes to FY 2017 Budget

We had our first day long FY 2017 budget worksession today. Here is the highlights of the changes the Mayor and Council discussed Additional RRFB (street crossing light)  at a future location: $25,000 Additional streetlights: $6,000 CPCUP funding request for Homeownership grants: $5,000 Removal of Old noise meter calibration: ($900) Interpretation service $1,000 Additional Adobe InDesign […]

Saturday April 9th, 2016 in Budget | No Comments »

City Publishes FY2017 Draft Budget

Staff has posted the draft FY 2017 budget on the City website. You can take a look at the budget document here: The budget document is pretty big (450 pages). A brief summary of the budget can be seen on page 8. In the new budget, no change is proposed in the property tax rates. […]

Thursday March 31st, 2016 in Budget | No Comments »

City Revenue Can Go Up by $750K from Property Tax in FY2017

The  city  has received the estimate of FY2017 real property tax assessments and the total is 11.75% higher than the FY2016 assessment (prior to application of the homestead tax credit). Depending on the amount of the homestead tax credit, not available until mid-February, this increase could equate to a $750,000-900,000 increase in real property tax. Expenditure Budget: […]

Wednesday January 20th, 2016 in Budget | No Comments »

College Park 2016 Budget for Community Review

Please see below City’s FY2016 Budget for Community Review and let me know if you have any questions. Also, please don’t forget to attend tonight’s town hall meeting. Thanks.

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Wednesday April 22nd, 2015 in Budget | No Comments »