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City Sets Plans to Recover from Lost Property Tax Revenues

FY 2014 Budget

The Council received copies of the proposed FY 2014 budget from our City staff this weekend. It’s a long document to absorb, but as we read it, we’ll be letting you know some of the highlights.

Perhaps most importantly, due to the significant decrease in property tax assessments this year, the City Manager is proposing an increase in the property tax rate from $0.322 cents per $100 of assessed value to $0.34 cents per $100 of assessed value. For a house assessed at $200,000, this would be an increase of $36 per year.

The City Manager is also proposing an increase in the personal property tax rate (which only impacts large businesses in the City) from $0.805 to $0.85 per $100 of assessed valuation. With the new property tax revenue coming in from the Domain development, these increases would keep the City’s property tax revenue about even.

This is the first increase in the property tax rate proposed in six years.

The only significant increases in expenditures are for two part-time noise enforcement officers and an Assistant City Manager. Residents have told us that they want to see increased noise enforcement and code enforcement staffing.

Council has also talked about bringing on an Assistant City Manager to help prepare for the transition when current City Manager Joe Nagro retires.

As I’ve mentioned before, Council member Wojahn and I will be working with Councilmembers Mitchell, Catlin and Dennis to host a Town Hall meeting for North College Park residents on the budget on Monday, April 29 at 7 pm at Davis Hall.

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