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Finance director: College Park on track midyear; recommends keeping homestead tax credit at 0% cap
Summary
City finance director reported stronger‑than‑expected midyear revenues, recommended maintaining a 0% homestead tax credit cap for FY 2026, and said staff will produce guides and a short video explaining homestead, homeowners and senior tax credits.
City Finance Director Bill Fields told the College Park City Council on Jan. 20 that the city’s finances are tracking well at the mid‑point of fiscal 2025 and recommended keeping the city’s homestead tax credit cap at 0% for FY 2026.
Fields framed the discussion around timing differences in municipal accounting and highlighted revenue categories where the city is ahead of the 50% midyear benchmark, including real property and income taxes. On the homestead tax…
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