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Commissioners adopt constant-yield rates after debate on tax cut
Summary
The St. Mary's County Commissioners voted to set the real property tax rate at the constant-yield rate of 0.8523 and the corresponding personal property rate at 2.13075 after discussion about using fund balance and proposed tax relief; the motion passed with three ayes and one nay.
St. Mary's County Commissioners voted to set the real property tax rate at the constant-yield rate of 0.8523 and to set the personal property tax rate at 2.13075 during their May 4 budget work session. The motion passed in a roll-call-style sequence of “Aye. Aye. Aye.” followed by a single “Nay.”
The vote followed a wide-ranging budget review presented by finance staff, which showed current revenues totaling about $226.3 million and projected expenses at roughly $225.0 million, leaving a gap the board needed to close.…
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