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Category: Budget

College Park Reduces its Property Tax Rate

After listening to many of your comments about the City’s tax rate and the proposed budget for the upcoming fiscal year 2022, the City Council reduced City’s rate at this week’s meeting. The reduction in the tax rate will reduce City’s tax revenue by $380,000 in the upcoming fiscal year, but we believe this important […]

Tuesday May 25th, 2021 in Budget | Comments Off on College Park Reduces its Property Tax Rate

Council to Vote on New Budget, and Constant Yield Tax Rate

For the tax year beginning July 1, 2021, the estimated real property assessable base will increase by 3.8%, from $3,086,366,980 to $3,203,730,429. This means, the C City is going to have $381,431 in additional property tax revenues in the upcoming fiscal year FY 2022. The City intends to keep the tax rate at the current […]

Sunday May 9th, 2021 in Budget | Comments Off on Council to Vote on New Budget, and Constant Yield Tax Rate

FY21 County Budget Hearings – May 4 and 11, 2021

The County Budget Public Hearings will take place on Mary 4 and May 11 at 5:00 p.m. Review the proposed budget and learn more here: https://pgccouncil.us/454/Budget-Portal Register to speak on May 4 or 11 via the “eComment” links for those dates here.

Friday April 9th, 2021 in Announcements, Budget, County | Comments Off on FY21 County Budget Hearings – May 4 and 11, 2021

How to Watch Tomorrow’s Budget Worksession?

The City of College Park will hold a Budget Worksession tomorrow, Saturday, March 27, 2021 at 8:00 a.m. Click Here for the Budget Worksession agenda. Click Here to view the FY2022 City of College Park Proposed Operating Budget. To watch or participate in the meeting at 8:00 a.m., please CLICK HERE. Please note: participants will be muted during the […]

Friday March 26th, 2021 in Announcements, Budget | Comments Off on How to Watch Tomorrow’s Budget Worksession?

Thank you for Joining FY22 Budget Town Hall

Thank you all who joined yesterday’s budget town hall by District 1 and 4 Council members. We had a robust conversation on quite a few topics of the proposed new budget. We’ll continue to gather your questions on the budget and hope to discuss them next Saturday’s budget worksession. You can watch the video and […]

Sunday March 21st, 2021 in Budget | Comments Off on Thank you for Joining FY22 Budget Town Hall

This Weekend’s Budget Town Hall – An Opportunity to Tell Your Elected Officials about Your Tax Dollars

Do you know College Park’s budget document puts “Residents of College Park” on top of the Mayor and Council? It’s the duty of the Mayor and Council to listen to the residents who elect them and be a good steward of their precious tax dollars. This Saturday, at 4 p.m., please join District 1 and […]

Thursday March 18th, 2021 in Announcements, Budget | Comments Off on This Weekend’s Budget Town Hall – An Opportunity to Tell Your Elected Officials about Your Tax Dollars

FY2022 City Budget Town Hall – This Saturday at 4 p.m.

Please join District 1 and 4 Council members for a virtual town hall to learn more about the proposed FY2022 College Park budget and to share your feedback and ideas on how to make our city a better place to live, work, and play! Join by Zoom: https://b.link/CPBudgetTownHall Join by Phone: (301) 715 – 8592 […]

Monday March 15th, 2021 in Budget | Comments Off on FY2022 City Budget Town Hall – This Saturday at 4 p.m.

City Published FY 22 Draft Budget

Last Friday, the City published the draft budget for the fiscal year 2022. You can get see it here on City’s website:  Based on the latest projections, it is anticipated that revenues will exceed expenditures by $1.54 million at the end of FY2021. With all the impacts from the COVID pandemic, this is very good […]

Sunday March 14th, 2021 in Budget | Comments Off on City Published FY 22 Draft Budget

Council Plans not to Change Property Tax Rate in FY 2022

At last week’s meeting, the Council got a preview of the FY2022 budget cycle and a review of the Homestead Tax Credit. The staff has also released the draft FY 2022 budget calendar. The budget worksession is scheduled for Saturday, March 27th. All departments will be scheduled for review. An additional budget worksession may be […]

Thursday January 21st, 2021 in Budget | Comments Off on Council Plans not to Change Property Tax Rate in FY 2022

City to Slash $1 million in Spending to Cover COVID Loasses

At this week’s meeting, the City Council will hold a Public Hearing to get residents’ input about the proposed $1 million budget cut due to COVID-19 related loss of revenues. When the FY2021 Budget was prepared, the initial revenue projections were reduced by almost $1 million to provide for lost/reduced revenue as a result of […]

Monday September 21st, 2020 in Budget | Comments Off on City to Slash $1 million in Spending to Cover COVID Loasses

College Park Budget Town Hall Video and Presentation

Thank you all who joined yesterday at our virtual town hall meeting. We covered quite a few items in the meeting, including our tax rate, COVID-19’s impact on our budget, City services, and some of the key ongoing capital projects. Please click on the image below to see the recorded video. You can also see […]

Sunday May 10th, 2020 in Budget | 1 Comment »

[TODAY] Budget Town Hall at 4PM

A friendly reminder about today’s budget town hall. In addition to going over the proposed FY2021 budget, we’ll go over two important budget-related issues that our residents are concerned about. Post-COVID recovery: What does College Park’s current financial health look like? Is it resilient enough to withstand tough days that may be ahead of us? […]

Saturday May 9th, 2020 in Announcements, Budget | Comments Off on [TODAY] Budget Town Hall at 4PM

Budget Town Hall – This Saturday, at 4 PM

Please join Councilmembers Denise Mitchell, Maria Mackie, and Fazlul Kabir for a virtual town hall to learn more about the proposed FY2021 for College Park and to share your feedback and ideas on how to make our city and community a better place to live, work, and play! Join Zoom Meeting URL: http://bit.ly/2Wwx2er Join by […]

Thursday May 7th, 2020 in Budget | Comments Off on Budget Town Hall – This Saturday, at 4 PM

City Projects $2 Million Revenue Loss Due to COVID-19

The COVID-19 pandemic is causing a lot of financial pain to our local businesses,  and many of our residents who have lost their jobs. The pandemic is also expected to cause a good amount of financial pain to state and local governments across the country. Washington D.C projects a loss of $722 million, Montgomery County […]

Monday April 27th, 2020 in Budget, COVID-19 | 1 Comment »

Comparing Tax Rates of College Park and Neighboring Towns ..

Thanks to our Finance staff, who presented us the real property tax rates of College Park and the surrounding neighborhoods, at this weekend’s budget work session. College Park has the 5th lowest cumulative tax rate among 27 local municipalities when it comes to how much our residents pay property taxes to all jurisdictions. This is […]

Monday March 30th, 2020 in Budget | Comments Off on Comparing Tax Rates of College Park and Neighboring Towns ..