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St. Mary’s commissioners agree to 3% homestead cap; staff recommends cautious income-tax projection
Summary
Commissioners directed staff to notify the state to change the homestead property-tax assessment cap from 5% to 3%; finance staff recommended a conservative 3.5% income‑tax growth projection (staff noted a 3.8% three‑year figure based on receipts).
St. Mary's County Commissioners on Feb. 26 directed staff to lower the homestead assessment cap from 5% to 3% and to notify the state of that change, citing a desire to provide modest relief to homeowners while preserving flexibility in the county budget.
County finance staff presented updated revenue information, including a higher constant-yield assessment and new state information on personal-property and utilities values. Chief Financial Officer Jeanette Cudmore summarized the revenue changes and the basis for staff recommendations: staff showed total general-fund revenues excluding other financing sources up about 2.6 percent and reported that updated assessment data increased the county's debt capacity.
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