>The County Commissioners will be holding a public hearing on the county’s Fiscal Year 2012 Constant Yield Tax Rate this coming Thursday at 7:00 PM in Room FA715, Fine Arts Building Auditorium at Garrett College. The hearing is open to the public and public testimony is encouraged.
The Commissioners are considering not reducing the county’s real property tax rate enough to fully offset increasing property assessments. The County proposes to adopt a real property tax rate of $0.990 per $100 of assessment. This tax rate is 0.3% higher than the constant yield tax rate of $0.9874 and will generate $119,903 in additional property tax revenues.
The county’s overall real property assessable tax base is estimated to increase 0.3% for the tax year beginning July 1, 2011. In dollars, that increase is estimated to be from the current base of $4,533,348,242 to a new assessable base of $4,545,459,693.
The County’s proposed 2012 budget can be viewed online at
http://garrettcounty.org/Commissioners/budget12/2012Requested.pdf
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