Are Rockville’s Taxes Going Up, Down, or Staying Flat?
In elections, taxes are often a hot-button issue and that’s no different in the current Rockville Mayor and Council campaign. Taxes are are the largest source of government revenue and directly affect most residents and businesses, but they aren’t the only source. For Rockville, those sources include fees, permits, fines, licenses, investments, and overhead. As you can see in the chart from the City’s FY2016 adopted budget, property taxes contribute 51 percent and “Other Gov’t” (which consists of highway user taxes and income taxes) is 25 percent.
Property taxes not only represent the largest share of general fund revenues at $38 million but they are also expected to grow more than 5 percent in 2016 compared to last year. That’s not because of increased rates, but increased property values. Although I always grumble when I receive my property tax bill, I’m slightly mollified by knowing that the value of my house has also increased (and that I’m helping pay for those things I value in my community, such as roads, parks, police, libraries, schools, etc. etc.). In chatting with others in the community, they also grumble about property taxes but place most of the blame on the City of Rockville, but it should actually be aimed at Continue reading →