The County Commissioners have proposed a tax increase for Cecil County property owners for the upcoming fiscal year. The tax rate that is being considered (0.94-cents per $100) is 4.8% higher than the constant yield rate (the rate that would produce the same amount of taxes) of 0.897-cents per $100 of assessed property. The increase would generate $4,225,789 in additional property tax revenue for the county. Public hearings on the proposed real property tax increase and the budget will be held at 2:00 p.m. and 7 p.m. on Tuesday May 12, 2009 at the Cecil County Administration Building.
A few weeks earlier the Elkton municipal Administration proposed that the town levy an increase of 8.6%. For a better discussion of the constant yield rate and how that works click here to read our earlier post on the suggested Elkton increase.
Also click here to read the county press release on the subject.