Howard County Maryland Blog

Local Politics and Current Events

Property Tax Assessments

Posted by David Keelan on Sunday, January 7, 2007

According to the Howard County Spending Affordability Committee report for 2007

Because the reassessments of existing property for Fiscal 2007 are already complete, most of the real property assessable base has already been determined. The only unknown factor is the amount of new construction that will be added to the base between now and July 1, 2006. Based on a projection of that new growth, the reassessments of existing property, the phase in of reassessed property from previous years, and the new construction that has been added to the base during the past year, the County Budget Office is projecting a full value real property assessable base of $33.4. billion. This is a 17.6 percent increase over last year’s base.

What is that $5 billion? Here are projected county revenues through 2010.  Pay particular attention to property tax revenues.  Income revenue is more sensative to the health of the economy.  However, the assessment is the assessment and will phase in regardless of the health of the economy.

(click image to enlarge and open in a new window) hocorevenue.GIF

Projected property tax revenues of $391.5M by 2010.  That is a $67 million increase in revenue and the County has always taken in more property tax revenue than it projects. Is there any question as to whether we can afford a $2m to $4m tax break for our senior citizens?

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One Response to “Property Tax Assessments”

  1. =======For a research project, I need to know the total value of taxable land assessments in Howard County.

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