Category: Budget

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.

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

Council Discusses FY2016 City Budget

Last Saturday, the Mayor and Council started discussing the FY2016 budget. So far, we’ve covered the revenue, expenditure and capital projects related to the Public Works, Public Services, Administration, Human Resources, Youth and Family Services and Finance departments. Despite the lack of additional revenue this year, we are able to put some money aside toward […]

Monday April 13th, 2015 in Budget | No Comments »

Budget Town Hall Meeting, April 22

Please mark your calendar. We’ll be hosting a budget town hall meeting on April 22. Please see below for details.

Thursday April 9th, 2015 in Budget | No Comments »

City Publishes 2016 Requested Budget

The FY2016 requested budget is now available. Bound copies and CDs are available for resident pickup at City Hall and Davis Hall. The 2016 requested budget can also be found here on City’s website: I will give a more detailed highlights of the budget, but here are some quick notes: 1. No hike in tax […]

Tuesday March 31st, 2015 in Budget | No Comments »

City Gears Up for 2016 Budget Process

The City is gearing up its work on the 2016 fiscal year budget. It has already started with giving out budget worksheets to individual departments last week, encouraging individual departments to maintain the same level of expenditures for another year and cut whenever possible. The City has received preliminary numbers for tax revenue for FY […]

Thursday January 22nd, 2015 in Budget | No Comments »

Council to Adopt FY 2015 Budget Tonight, with No Hike in Fines, Fees or Property Tax

The Council will vote tonight to approve the FY 2015 operating and capital budget. The budget Ordinance was introduced on April 22nd and a public hearing was held on May 13th. The Ordinance reflects the combination of the FY2015 City Manager’s requested budget and budget changes made by Mayor and Council during budget worksessions. The budget ordinance will […]

Tuesday May 27th, 2014 in Budget | No Comments »

Budget Public Hearing, Tonight

The City Council will hold a Public Hearing tonight on the proposed FY 2015 budget. The public hearing will take place at the City Hall at 7pm, before our regular Council meeting. The draft budget does not propose any increase in tax, fees or fines in the next fiscal year. It was a difficult budget, […]

Tuesday May 13th, 2014 in Budget | No Comments »

2015 Budget for Community Review

Like in the past years, we’ve prepared a short preview document that highlights the most important information about our budget. It does not include all the details, thus please feel free to ask any question you may have. This will be the second year we’re doing this for the community to review. You can download […]

Tuesday April 22nd, 2014 in Budget | No Comments »

FY2015 Budget: Major Changes in Revenues and Expenditures

Revenue changes: 1.Slight increase in real and personal property tax revenue (+$100,000), income tax revenue ($125,000), and A&A tax revenue (+$150,000) 2. Decrease in Highway User Revenue tax (-$140,000) 3. Increase in speed camera revenue (net of charges to Optotraffic) (+$61,000) 4. Revitalization Tax Credit for the Varsity (-$60,000) Expenditure changes: 1. Decrease in 0.87 […]

Saturday April 12th, 2014 in Budget | No Comments »

Council Reviews FY 2015 Budget

The City has published the FY 2015 draft budget which is now available here on our website Despite the challenging fiscal times we’re going through, the City Manager has proposed a few cuts. We’are also expecting the an increase in both income tax revenue and admissions and amusement tax (because of the UMD joining the […]

Monday April 7th, 2014 in Budget | No Comments »

Budget Town Hall Meeting: April 23, 2014

Please mark your calendar. Council members from District 1 and 4 will be hosting a public forum on the FY15 budget on April 23, Wednesday, 7-9 pm at Davis Hall. Please mark your calendar. See you all there.

Sunday April 6th, 2014 in Announcements, Budget | No Comments »

Council to Discuss 2015 Budget Scehdule

The City is gearing up its work on the 2015 fiscal year budget.  At tonight’s worksession, the Council will discuss the 2015 draft budget schedule. The City has received preliminary numbers for tax revenue for FY 2015, and the City will likely receive a 0.5% increase in property tax assessments without taking the homestead tax […]

Tuesday February 4th, 2014 in Budget | No Comments »

FY 2014 Budget for Community Review

Our 2014 budget book is a very large 400+page document. While some will (thankfully) take the time and pain to go over this huge book, I assume most of us will not have the time to do the same. This led me to think of a shorter version of our budget book that is easy […]

Friday April 26th, 2013 in Budget | No Comments »

Council Decides to Reduce Property Tax Hike

The Mayor and Council went over City manager’s proposed FY 2014 budget last Saturday and also last night and made some adjustments. The major change we made was reducing the property tax hike by 25% (from 0.34 to 0.335 per $100 of assessed value). Considering the PILOTs and the impact on personal property tax, this […]

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Wednesday April 17th, 2013 in Budget | No Comments »