Date: April 21, 2017
May 21, 2017 (61 days ago)
CITY OF HAVRE DE GRACE NOTICE OF A PROPOSED REAL PROPERTY TAX CHANGE The Mayor and City Council of Havre de Grace proposes to change real property taxes. 1. For the tax year beginning July 1,2017, the estimated real property assessable base will increase by 0.8%, from $1,421,987,759 to $1,433,768,714. 2. If the City of Havre de Grace maintains the current tax rate of $0.5697 per $100 of assessment, real property tax revenues will increase by 0.8%, resulting in $67,116 new real property tax revenues. 3. In order to fully offset the effect ofincreasing assessments, the real property tax rate should be decreased to $0.5650, the constant yield tax rate. 4. The city is considering reducing its real property tax rate enough to fully offset increasing assessments. The city proposes to adopt a real property tax rate of $0.5650 per $100 of assessment. This tax rate is equal to the constant yield tax rate and will generate the same property tax revenues. A public hearing on the proposed real property tax rate increase will be held at 6:00 p.m. on Monday, May 8, 2017, at City Hall, 711 Pennington Avenue, Havre de Grace, MD 21078. The hearing is open to the public, and public testimony is encouraged. Persons with questions regarding this hearing lmay call 410-939-1800 for further information.