Cecil County Executive Danielle Hornberger unveiled her plan to return $20 million to qualified residential property owners as a historic tax rebate. This real property tax credit will be issued to the owner-occupied property of homeowners with a real estate tax bill of at least $1 as of July 1, 2023.
As previously reported on Conduit Street, the property tax rebate is part of County Executive Hornberger’s fiscal 2024 budget. The County Executive’s budget, subject to approval by the County Council, also cuts real and personal property tax rates and the local income tax rate.
Under the County Executive’s plan, the homeowners of owner-occupied properties will receive a real property tax credit according to the following schedule:
- Homeowners whose county real estate tax bill is under $500 will receive a credit equal to the actual amount billed
- A $500 credit for those homeowners whose county real estate tax bill is greater than or equal to $500 but less than $1,000
- A $700 credit for those homeowners whose county real estate tax bill is greater than or equal to $1,000 but less than $5,000
- A $1,000 credit for those homeowners whose county real estate tax bill is greater than or equal to $5,000 but less than $10,000
- A $1,500 credit for those homeowners whose county real estate tax bill is greater than or equal to $10,000
This tax rebate will be issued as a credit on county real estate tax bills as of July 1, 2023.
“I am pleased that our county is in a position to return these tax dollars to the hard-working men and women who earned them,” said County Executive Hornberger. “When creating the county budget each year, my Administration always starts with the bedrock principle that this is the people’s money, not the government’s. Our commitment to fiscal responsibility and conservative budgeting has paved the way for this historic tax rebate, which is needed now more than ever at a time of record inflation.”
According to Cecil County:
The County Executive’s tax rebate plan is in addition to the tax relief package included in her proposed FY24 budget. The proposed budget cuts the real property tax rate from 1.0143 to 0.9924 per hundred dollars, which represents an approximate 2 cents per hundred dollar reduction and the personal property (business) tax rate from 2.5358 to 2.4810 per hundred dollars, representing an approximate 5 cents per hundred dollar reduction. When passed by the County Council, FY24 will be the third consecutive year that County Executive Hornberger’s Administration will have cut both the real property tax rate and personal property tax rate for businesses.
The proposed FY24 budget would also provide additional tax relief by cutting income taxes by 5 cents per 100 dollars earned (from a 2.8% tax rate to a 2.75% tax rate) marking two consecutive years of income tax cuts for Cecil County citizens.