Garrett County Faces Bleak Financial Forecast For Fiscal 2015

As reported by the Cumberland Times-News, the fiscal 2015 financial forecast for Garrett County looks bleak as it continues to struggle with declining property tax revenues. From the article:

A previous estimate of a $2.5 million projected loss of real property tax revenue has increased by $700,000, to $3.2 million, based on the revision of assessable base calculations, according to Monty Pagenhardt, county administrator. On Nov. 30, the Maryland Department of Assessments and Taxation produced valued assessable base calculations that confirmed the projected loss in real property tax revenue. This additional loss, coupled with the loss of $2.2 million in revenue for the Garrett County Public School System, equates to a total projected loss of $5.4 million.

To assist with closing the gap, Garrett County Public Schools is moving forward with the closure of three elementary schools. Additional information on school closures in Garrett County can be found on Conduit Street.

County Commissioners and staff have been working on a long-term plan to address the county’s budgetary shortfall.  The plan will be released publicly in the near future.

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