Submitted by: Nate Groenendyk
Submitting Department: City Clerk
Agenda Section: Discussion
Item Title:
title
Open FY24 Budget Discussion - Real Property Tax Rate
end
Suggested Action:
recommendation
Open discussion to provide time for follow-up items pertaining to the FY24 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 FY24 Real Property Tax Rate.
end
Summary Background:
The FY24 budget was introduced on March 29, 2023. A Public Hearing on the Real Property Tax Rate is scheduled for 6:30 PM on Monday, May 1. 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 comments on the budget to 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