Perryville Proposes 1.8% Tax Increase

PERRYVILLE, MD - From Town of Perryville: The Mayor and Town Commissioners of the Town of Perryville propose to increase real property taxes.

1. For the tax year beginning July 1, 2019, the estimated real property assessable base will increase by 1.8% from $461,360,014 to $469,543,839.
2. If the Town of Perryville maintains the current tax rate of $0.3097 per $100 of assessment, real property tax revenues will increase by 1.8% resulting in $25,345 of new real property tax revenues
3. In order to fully offset the effect of increasing assessments, the real property tax rate should be reduced to $.3043, the constant yield rate.
4. The Town is considering not reducing its real property tax rate enough to fully offset increasing assessments. The Town proposes to adopt a real property tax rate of $.3597 per $100 of assessment. This tax rate is 18.2% higher than the constant yield tax rate and will generate $260,127 in additional property tax revenues

A public hearing on the proposed real property tax rate increase will be held 6:30 pm on April 17, 2019 at Town Hall, 515 Broad Street, 2nd floor, Perryville, Maryland, 21903

The hearing is open to the public and public testimony is encouraged.

Persons with questions regarding this hearing may call 410-642-6066 for further information.