The potential fiscal impacts of the COVID-19 pandemic on the city’s finances and the economy has led the city manager to consider adjustments to his proposed Fiscal Year 2021 budget.

The Mayor and Council will wind down their budget work in April, in preparation of adoption on Monday, May 4.

City Manager Rob DiSpirito on Feb. 24 presented the Mayor and Council with a $144.2 million budget proposal that outlines the city’s priorities.

The Mayor and Council will devote an April 13 work session to further budget consideration, including potential reductions in proposed FY 2021 spending. The Mayor and Council seek to adopt a budget that responds to the COVID-19 economic impacts while continuing to serve Rockville’s residents.

To practice responsible social distancing, Mayor and Council meetings are conducted by teleconference. (See multiple outlets listed at the left on where to tune in.) Visit www.rockvillemd.gov/budget to review the proposed budget and offer ideas before the public comment period closes at 5 p.m. Friday, April 17.

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Upcoming Fiscal Year 2021 Budget Calendar
April 13 . . . . . . Work session.
April 17. . . . . . Close of public record.
April 20. . . . . . . Work session.
May 4 . . . . . . . . .Adoption of the FY 2021 Budget.
July 1 . . . . . . . . . Start of FY 2021.

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30 Years of Rockville’s Real Property Tax Rates

A look at Rockville’s tax rates for Fiscal Years 1990-2020 show that FY 1995 was the last year the city increased its real property tax rate. All residential and commercial property owners pay this tax.

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FISCAL YEAR TAX RATE
1990 0.339
1991 0.332
1992 0.328
1993-1994 0.323
1995*-1998 0.328
1999 0.326
2000-2006 0.322
2007 0.312
2008 0.302
2009-2020 0.292
*Last increase.

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Note: At current assessed property values, each penny on the tax rate is worth about $1.4 million.