Greetings POA members:
The eBlast from last Sunday concerning Garrett County’s budget shortfall and proposed tax increases generated considerable interest. The four proposed options include a combination of property tax, income tax and accommodation tax increases. For your reference, below are the four options as detailed on the Garrett County website. While a final decision has not been made, at the conclusion of the meeting of the Commissioners on May 20th, it was stated that the plan is to proceed with option 4 in constructing the 2020 budget to be discussed in the upcoming public meetings.
A summary of the four options to bridge the projected shortfall (in no order) are below:
- Option 1: Increase property tax by $0.082 from $0.99 to $1.072
- Estimated impact to owner-occupied households = $122/year
- Estimated impact to owner-occupied households = $122/year
- Option 2: Increase property tax by $0.056 from $0.99 to $1.046 and income tax from 2.65% to 2.95%
- Estimated impact to owner-occupied households = $228/year
- Estimated impact to owner-occupied households = $228/year
- Option 3: Increase property tax by $0.04 from $0.99 to $1.03, income tax from 2.65% to 2.95%, and accommodations tax from 6% to 8%
- Estimated impact to owner-occupied households = $204/year
- Estimated impact to owner-occupied households = $204/year
- Option 4: Increase property tax by $0.066 from $0.99 to $1.056 and accommodations tax from 6% to 8%
- Estimated impact to owner-occupied households = $98/year
- Estimated impact to owner-occupied households = $98/year
A Public Meeting will be held Monday, June 3, 2019 at Garrett College GIEC building Room 111 beginning at 4:00 p.m. Following the Public Meeting, a Public Hearing will be held on the Constant Yield Tax (property tax) at 5:30 p.m. The public is invited to attend and public comments will be allowed.
Best Regards,
Paul Weiler
President
Property Owners' Association of Deep Creek Lake, PO Box 618, McHenry MD 21541
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