Submitted by: Laura Reams
Submitting Department: City Clerk
Agenda Section: Discussion
Item Title:
title
Open FY23 Budget Discussion - Real Property Tax Rate
end
Suggested Action:
recommendation
Open discussion to provide time for follow up items pertaining to the FY23 Budget and the Real Property Tax Rate. The rate has been published at .063 per $100 of assessed valuation. Councilmembers are allotted time to discuss keeping the current tax rate, tax credit program considerations, or options to lower it.
Attached is a slide detailing the proposed FY23 Real Property Tax Rate.
end
Summary Background:
The FY23 budget was introduced on March 30, 2022. A Public Hearing on the Real Property Tax Rate is scheduled for 6:30 PM on Monday, May 2. The City Council will set the tax rate during this hearing.
Next Steps:
Council Discussion
Fiscal Impact:
Please see budget documents on the City’s website at Hyattsville.org/budget.
City Administrator Comments:
For discussion.
Community Engagement:
Community members are encouraged to submit comment on the budget to cityclerk@hyattsville.org <mailto:cityclerk@hyattsville.org> or to their individual Councilmembers.
Strategic Goals:
Goal 2 - Ensure the Long-Term Economic Viability of the City
Legal Review Required?
N/A