Due to the ongoing state of emergency, the Charles County Board of County Commissioners today announced a virtual public hearing for the fiscal 2021 Constant Yield Tax Rate on Wednesday, April 29 at 6:00 pm.
The constant yield tax rate is calculated by State Department of Assessments and Taxation for each taxing authority in Maryland. It represents the real property tax rate for the coming tax year that will generate the same amount of revenue that was generated during the current tax year.
As assessments increase, the constant yield tax rate decreases. Implicit in this concept is the idea that a tax rate at or below the existing tax rate is a tax increase if it is higher than the constant yield tax rate. When a taxing authority plans to impose a real property tax rate that is higher than the constant yield tax rate, it must advertise the tax increase and hold a public hearing.
Under the constant yield tax rate law, taxing authorities are required to (1) provide information to the public about the constant yield tax rate and the assessable base and (2) hold public hearings regarding proposals to enact a tax rate that is higher than the constant yield rate.
According to a press release:
Comments may be submitted starting Wednesday, April 29 at 8 a.m. through Friday, May 1 at 5 p.m. via:
- E-Comment: www.CharlesCountyMD.gov/ConstantYield.
- Phone: Call 301-645-0652 to leave a message.
- Mail: Send to Commissioners of Charles County, 200 Baltimore Street, Maryland, 20646 (must be received by Tuesday, May 5).
Residents can view the public hearings on Charles County Government Television (CCGTV) which airs on Comcast Channel 95 and Verizon Channel 10 or at www.CharlesCountyMD.gov. Residents without internet access may call 301-645-0500 to listen to the meeting.
Information on the constant yield tax rate will be available on Board Docs by Thursday, April 24 at https://go.boarddocs.com/md/chrlsco/Board.nsf/Public.
For more information, call the Charles County Commissioners Office at 301-645-0570. Residents with special needs may contact the Maryland Relay Service at 711, or Relay Service TDD: 866-269-9006.