Property Tax Rate Remains Constant for Tenth Consecutive Year
Rockville residents will pay the same property tax rate as they have for the last 10 fiscal years, after the Mayor and Council approved the Fiscal Year 2019 budget.
Rockville’s FY 2019 operating budget equals $136.2 million. Budget highlights include funding for two new full-time police officers and an additional tree maintenance worker; improvements recommended in the Senior Needs Assessment Action Plan and the Americans with Disabilities Act Transition Plan; software to help track the city’s Moderately Priced Dwelling Unit housing program; a Department of Recreation and Parks strategic plan; replacing flooring at the Twinbrook Community Recreation Center; a study of strategies to make Rockville an arts destination; and exploring potential uses and development of the Rockshire Village Center property.
The FY19 budget represents a 4.6 percent, or $5.9 million, increase over the Fiscal Year 2018 budget. The 2019 fiscal year begins July 1 and ends June 30, 2019.
Property tax rates will remain $0.292 for real property and $0.805 for personal property. Both rates are per $100 of assessed value. The FY19 budget continues the city’s supplement to the State of Maryland’s Homeowner’s Tax Credit, which provides real property tax credits to low- to moderate-income homeowners.
The adopted budget includes necessary increases to average residential bills for water, sewer and stormwater management that reflect added costs of providing these services. There is no increase in the rate for residential recycling and refuse services. Based on the adopted FY19 rates, the average annual residential bill for city utilities for a sample family of four will increase by $70.78, or 4.3 percent.
The Capital Improvements Program, which funds new construction and infrastructure maintenance, equals $67.7 million for FY19 and supports several major newly funded projects.
The Mayor and Council held three work sessions and two public hearings after the city manager’s proposed budget was presented, and solicited budget ideas from the public through the city’s website.
For more information about the FY19 budget, visit RockvilleReports.com and search “budget,” visit www.rockvillemd.gov/budget or call the Finance Department at 240-314-8400.