During the VERY LONG “FY24 Adopted Budget Work Session” on May 11th, Carroll County Commissioners voted to remove the proposed tax increase in FY24.
The proposed tax increase was on the local Recordation Tax in the county moving it from the current rate of $5/$500 up to $6.25/$500.
In order to fund the loss of revenue the tax increase was scheduled to bring in the Commissioners are proposing using one time funds to cover the gap for this budget cycle.
Here are a few highlights on this topic from the May 11th meeting:
You can view the full meeting here (it is nearly 3 1/2 hours long): https://www.youtube.com/watch?v=zebBliXjRuM
The process is not yet complete as the Commissioners are scheduled to meet on May 16th for another FY24 Adopted Budget Work Session, so additional changes could be made before finalizing the FY 24 budget in the county.
For some background…here are a couple of videos from back in April when the proposed tax increase was on the table:
Recordation Tax Increase on the table in the upcoming budget in Carroll County. #carrollcountymd #budget #taxes #maryland
Carroll County Commissioner approve increasing the recordation tax from 6/500 to 6.25/500 on April 13th in the budget work session. Earlier in that work session they appoved the increase from 5/500 to 6/500. So the total increase approved is from 5/500 to 6.25/500. #carrollcountymd #maryland #taxes #budget
Here is a short (3 minute) highlights video from the FY 24 Proposed Budget Presentation on April 25th #carrollcountymd #maryland #budget
Stay tuned as noted above…this is not over yet and more changes to the budget may be coming next week.
FOLLOW THE CARROLL COUNTY OBSERVER SOCIAL MEDIA PLATFORMS FOR THE MOST UP TO DATE INFORMATION