FY2022 Adopted Operating and Capital Budget

FY2022 Adopted Budget County Tax Rates Overview

Tax revenue is 72 percent of total revenue for the County and is mostly budgeted in the General Fund (the main operating fund of the County). The remaining 28 percent comes from an array of fees, grants, service charges, and miscellaneous rents and investment income. Property Tax This ad valorem tax applies to owners of real property (land and improvements) located in the County.

The tax base for a given fiscal year is the total assessed value of all real property subject to the property tax as of the first of January (the date of finality) immediately preceding the first day of a fiscal year. New construction substantially completed as of July 1 of the fiscal year is taxed for the full year, and new construction substantially completed as of January 1 of the fiscal year is taxed for a half year. Each year, the State Department of Assessments and Taxation (SDAT) is required to value one third of all real property based on a physical inspection prior to the date of finality. Any increase in cash value (market value) is phased in equally over the next three years. All property is assessed at 100% of full cash value. The County property tax rate for Fiscal 2022 is $1.06 per $100 of assessable property. A rate is proposed by the County Executive and adopted by the County Council, which is required by the County Charter to adopt a tax rate necessary to balance the budget. The rate of $1.06 has been the tax rate since FY2014. Also in the property tax classification is the electric lighting tax and the payment in lieu tax. Electric lighting is a tax applied to the assessable value of a property within designated areas of the County to provide street lighting. Payment in Lieu is a SD\PHQW PDGH WR WKH FRXQW\ WR FRPSHQVDWH IRU SURSHUW\ WD[ RWKHUZLVH ³ORVW´ GXH WR RZQHU H[HPSWLRQ RU RWKHU QHJRWLDWHG arrangements.

SDAT property valuation map of Frederick County: Area 1

Assessment Area 1 will be reassessed for January 1, 2022 Assessment Area 2 will be reassessed for January 1, 2023

Area 2 Area 3

Assessment Area 3 was reassessed for January 1, 2021 (Effective FY2022)

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