[RP TownTalk] Proposed property tax increase

[Vernon Archer]

Bruce,

I'm happy to see your interest in the budget and town finance, but I believe
that events have overtaken the numbers published in the Crier.  While
I cannot with certainty say what the council will pass when they meet next
Monday, it seems from the budget meetings of the last weeks that what is
most likely is that the town will adopt a rate that will produce exactly the
same total income from property tax in the upcoming fiscal year (2011) that
we collect in this year (2010).

That is I expect that the town's property tax income will be exactly the
same *3,097,415.00, in 2011 as it was in 2010.*
**
*This is a reduction from my original proposal, made possible , at least in
part, by a markedly better financial outlook in several other areas of
revenue that have come to lite over the last six weeks. I also commend the
council and town staff for continuing to look for ways to more frugally keep
our current level of service so that we could keep taxes lower.*
**
*For those interested, it is my expectation that the council will pass the
final budget this coming Monday June 7.*
**
*Best wishes,*
**
*Vern*

Your title is misleading, you are fist claiming to evaluate % increase in
property tax, and then using the nominal rate
On Thu, Jun 3, 2010 at 7:58 AM, <bruce.wernek at mindspring.com> wrote:

>  I wanted to supplement the information contained in the Town Crier
> regarding the proposed property tax increase.
>
> % increase Riverdale property tax: ($.006967-$.006155)/$.006155 = 13.2%
>
> Dollar amount of additional tax:
>
>  Assessed    Current   Proposed     Annual    Value       Tax      Tax  Increase$100,000$615.50$696.70$81.20$150,000$923.25$1,045.05$121.80$200,000$1,231.00$1,393.40$162.40$250,000$1,538.75$1,741.75$203.00$300,000$1,846.50$2,090.10$243.60$350,000$2,154.25$2,438.45$284.20$400,000$2,462.00$2,786.80$324.80$450,000$2,769.75$3,135.15$365.40
>
> I hope the table comes out OK.
>
>
>
> Bruce
>
>
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>


-- 
Vernon Archer, Mayor
Town of Riverdale Park, Maryland
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