FY2024 Adopted Operating and Capital Budgets

FY2024 Adopted Budget Revenue Budgets

General Fund

Actual

Actual

Adopted

Adopted Change

2021

2022

2023

2024

%

Property Taxes Real Property Taxes Public Utility Taxes

344,871,888 364,515,469 398,277,208 433,580,204

8.9% 0.8%

11,628,434

12,031,032

11,900,000

12,000,000

Pers Prop Tax on Generation of Electricity Payment in Lieu Option Municipal Tax Differential Tax Credit - Homestead Tax Credit - Historic District Tax Credit - Ag Land / Bldg Tax Credit - County Homeowner Tax Credit - Enterprize Zone Tax Credit - Vacant Commercial Tax Credit - Carroll Manor Rec Tax Credit - Retired Military Tax Credit - Forty Year

81,023

78,077

-

75,000

-%

516,261

614,910

550,000

615,000 11.8%

-

-

(10,546,027) (3,201,840)

(11,017,661)

4.5%

(949,760)

(1,150,917)

(6,450,255) 101.5%

-%

-

(3,436)

(1,000)

(1,000)

(1,276,439) (896,306)

(1,328,552) (833,573) (17,414) (28,540) (100,858)

(1,300,000) (825,000) (13,500) (15,000) (100,000)

(1,400,000) (850,000)

7.7% 3.0%

(13,259) (7,726) (89,864) (2,374)

(20,000)

48.1%

(30,000) 100.0%

(100,000)

-%

(2,374) (1,737)

(1,138) (1,200)

(2,374) 108.6% (78,000) 6,400.0%

(636)

Tax Credit - Spouse of Fallen Emergency Worker

(2,224)

(2,224)

(2,250)

(12,624) 461.1%

Tax Credit - Disabled Veteran

- - - -

- -

- - - - - -

(55,000)

-% -% -% -% -% -%

Tax Credit - Commercial & Industrial

(2,000,000)

Tax Credit - Future

(7,527,902)

- - - -

Discount of Personal Property Taxes

(781)

Tax Sale - Rev / Exp

14,678

55,505

Property Tax - Over /Under Interest on Property Taxes Discount on Property Taxes

(269)

(318)

3,338,825 (2,253,963)

3,476,506 (2,406,335)

3,200,000 (2,400,000)

3,300,000 (2,525,000)

3.1% 5.2%

Property Taxes Total

354,958,289 367,366,538 395,520,253 425,028,290 7.5%

Income Taxes Income Taxes

289,489,750 314,419,691 307,265,361 350,539,128 14.1%

Other Taxes Recordation Taxes MD 911 Fees - Local

33,347,840 2,817,159

38,541,413 1,695,531

28,940,343 2,500,000

29,519,150

2.0%

8,100,000 224.0%

MD Security Interest Filing Fee Admissions and Amusements Tax

430

445

200

200

-% -%

-

-

-

1,200,000

Other Taxes Total

36,165,429

40,237,389

31,440,543

38,819,350 23.5%

Licenses & Permits Liquor Lic - Beer / Wine Liquor Lic - Application Fee

538,913 80,714

437,308 62,578

400,000 58,200

400,000 58,200

-% -%

80