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The original item was published from 4/24/2019 8:29:17 AM to 5/10/2019 12:00:04 AM.

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Posted on: April 24, 2019

[ARCHIVED] City Budget Subject of May 9 Public Hearing

Welcome to Cambridge

THE COMMISSIONERS OF CAMBRIDGE

NOTICE OF A PROPOSED

REAL PROPERTY TAX INCREASE


The Commissioners of Cambridge of the City of Cambridge in Dorchester County propose to increase real property taxes. A draft budget worksheet is available online.


  • For the tax year beginning July 1, 2019, the estimated real property assessable base will increase by 1.4%, from $735,481,433 to $746,100,364. 
  • If the City of Cambridge maintains the current tax rate of $.8179 per $100 of assessment, real property tax revenues will increase by 1.4%, resulting in $86,852 of new real property tax revenues.
  • In order to fully offset the effect of increasing assessments, the real property tax rate should be reduced to $.8063, the constant yield tax rate.
  • The City of Cambridge is considering not reducing its real property tax rate enough to fully offset increasing assessments.  The City of Cambridge proposes to adopt a real property tax rate of $.9179 per $100 of assessment.  This tax rate is 13.8% higher than the constant yield tax rate and will generate $832,648 in additional property tax revenues.


A public hearing on the proposed real property tax rate increase will be held at 5:00 p.m. on Thursday, May 9, 2019 in the Council Chambers at 305 Gay Street, Cambridge, Maryland.


The hearing is open to the public, and public testimony is encouraged.


Persons with questions regarding this hearing may call Patrick Comiskey at 410-228-4020 for further information.    

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