St.Mary’s County Commissioners Approve FY 2013 Budget

St. Mary’s County Commissioners voted this past Tuesday to approve a $211.7 million FY 2013 budget.  The budget plan keeps tax rates the same and provides for a $500 stipend and a 2% COLA for county employees beginning July 1.  From the SoMdNews.com:

The budget estimates tax revenues of $201.1 million, an increase of 4.9 percent from the current year, and adds $10.56 million in leftover funds from fiscal 2011.

Local tax rates remain the same. Property taxes are 85.7 cents per $100 of assessed value.

Property taxes should bring in $100.4 million, county finance staff anticipates, an increase smaller than 1 percent.

The local income tax rate stays at 3 percent. The county’s finance staff anticipates $76 million to come in from the income tax, an increase of $10.5 million, or 16 percent.

Local funding to the board of education is $85.7 million, an increase of $8.65 million or 11.2 percent. The school board approved a final version of its budget Thursday at $183.5 million, which includes state, federal and local funding.

The sheriff’s budget is set at $31.7 million, an increase of 3.3 percent or $1 million more. The sheriff plans on hiring six new deputies, with four exclusively for Lexington Park.

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