Counties considering changes to their homestead property tax credit rate must do so by November 15.  According to State law, all counties and Baltimore City must set these rates on or before November 15 of any year for the taxable year beginning the following July 1.  Counties and Baltimore City are also required to notify the Department of Assessments and Taxation of changes prior to the November 15 date.

The Office of the Comptroller released its detail of the September distributions of county income taxes.  According to the electronic message, “The September distribution totals $50.9 million, an increase of 23% over last year’s distribution.”  It is composed of two components: 1) the adjusted final distribution for tax year 2009; and 2) the first quarter fiscal year 2011 installment of the disparity grant. The September adjusted final distribution reflects revenues attributable to tax year 2009…

An article by MarylandReporter writer Megan Poinski, shares the good news that was discussed at the September 1 Board of Public Works meeting; the State has a Fiscal 2010 General Fund balance of $344 million.  That's over $180 million more than anticipated.   However, revenues are still down. In 2010, Maryland collected 3.7% less than it did in 2009 – and $1.1 billion less than in 2008. Revenues are still down for county governments as well.…

Today, the Office of the Comptroller released its detail of the June distributions of county income taxes.  According to the electronic message, "The June distribution totals $707.5 million, an increase of 4.5% over last year's distribution."  It has three separate income tax components: the tentative final distribution for tax year 2009 the projected April/May withholding and estimated tax receipts for tax year 2010 the estimated unallocated distribution for tax year 2009 and the reconciliation for…