Submitted by: Ron Brooks
Submitting Department: Finance
Agenda Section: Discussion
Item Title:
title
FY26 Budget Discussion - Real Property Tax Rate and Constant Yield Tax Rate
end
Suggested Action:
recommendation
The City Treasurer will provide an overview of the current Real Property Tax Rate and the recommended SDAT Constant Yield Tax Rate as well as revenue projections. The City Council can use this information to discuss and make a recommendation on setting the FY26 General Operating Budget Real Property Tax Rate. The information is being provided in advance of the proposed budget presentation scheduled for March 24, 2025.
end
Summary Background:
The Proposed FY26 General Operating and Capital Improvements Budgets will be introduced on March 24, 2025.
Next Steps:
Council Discussion
Fiscal Impact:
To be determined once the final Real Property Tax Rate is set.
City Administrator Comments:
For discussion.
Community Engagement:
Community members are encouraged to submit public comment on the tax rate and proposed budget to cityclerk@hyattsville.org.
Strategic Goals:
Goal 2 - Ensure the Long-Term Economic Viability of the City
Legal Review Required?
N/A