March 11, 2021
Constant Yield: Implications for Your Towns Tax Rate
Thursday, March 11, 2021
Every February the State Department of Assessments and Taxation (SDAT) sends notices to Maryland local governments regarding the constant yield tax rate and whether State-mandated advertising and public hearing requirements apply to your jurisdiction. If your municipality is not exempt and plans to levy a property tax rate above the "constant yield," you will be required to advertise and hold a public hearing in accordance with State law. But what are those requirements exactly? And how does SDAT determine whether my municipality is exempt? Knowing the answers to these questions is important when communicating with municipal taxpayers as well as avoiding republication of notice and potential action by the State's Attorney General.
Fortunately, members of the SDAT team have offered to lead a constant yield tax rate discussion with municipal leaders on Thursday, March 11 at 1:00 p.m.