Rockville residents will pay the same property tax rate as they have for the last 11 fiscal years, under the budget for Fiscal Year 2020 that the Mayor and Council approved May 6.
The FY 2020 operating budget of $138.9 million is an increase of 2% over the FY 2019 operating budget. The city’s current tax rates of $0.292 per $100 of assessed valuation for real property and $0.805 per $100 of assessed valuation for personal property will remain the same. The adopted budget includes increases to average residential bills for water and sewer. These rate increases are necessary to repair and replace aging water and sewer pipes and other infrastructure vital to providing these services.
The FY 2020-FY 2024 Capital Improvements Program, the five-year plan for funding new construction and infrastructure maintenance, totals $77.6 million, an increase of 14.7% from FY19, to support 43 projects during the fiscal year.
For more details, visit https://rockvillereports.com/rockvilles-mayor-and-council-adopt-138-9-million-budget.
Rockville’s Mayor and Council Adopt $138.9 Million Budget
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