*REMINDER* Constant Yield Public Hearing
The Public Hearing is tonight at 6:30 pm.
Zoom information for the meeting is located at the bottom of the agenda.
TOWN OF CHEVERLY, MARYLAND
MAYOR AND TOWN COUNCIL
PUBLIC HEARING
May 11, 2021
6:30 PM
AGENDA
- Call to Order
- Pledge of Allegiance
- Public Hearing on proposed Constant Yield rate
- Adjourn
TOWN OF CHEVERLY NOTICE OF A PROPSED REAL PROPERTY TAX INCREASE
The Mayor and Council of the Town of Cheverly proposes to increase real property taxes.
- 1. For the tax year beginning July 1, 2021, the estimated real property assessable base will increase by 4.1% from $752,547,772 to $783,431,260 for real property excluding apartments.
- If the Town of Cheverly maintains the current tax rate of $.51 per $100 of assessment, real property tax revenues will increase by 4.1% resulting in $157,505 of new real property tax revenues.
- In order to fully offset the effect of increasing assessments, the real property tax rate should be reduced to $.4899, the constant yield tax rate.
- The Town is considering not reducing its real property tax rate enough to fully offset increasing assessments. The Town proposes to adopt a real property tax rate of $.51 per $100 of assessment for real property excluding apartments. This tax rate is 4.1% higher than the constant yield tax rate and will generate $157,505 in additional property tax revenues.
A public hearing on the proposed real property tax rate increase will be held at 6:30 PM on May 11, 2021 via Zoom. The hearing is open to the public, and public testimony is encouraged.
You are invited to a Zoom webinar.
When: May 11, 2021 06:30 PM Eastern Time (US and Canada)
Topic: Constant Yield Hearing
Please click the link below to join the webinar:
Webinar ID: 836 8560 9106
Passcode: 150586
Or One tap mobile :
US: +13017158592,,83685609106# or +13126266799,,83685609106#
Or Telephone:
Dial(for higher quality, dial a number based on your current location):
US: +1 301 715 8592 or +1 312 626 6799 or +1 646 558 8656 or +1 669 900 9128 or +1 253 215 8782 or +1 346 248 7799
International numbers available: https://us02web.zoom.us/u/kdEXXx2oMe