Posted on: May 9, 2017

Westminster Adopts $74.46 Million Budget

Westminster Adopts $74.46 Million Budget

Real Property Tax Rate Remains Constant for Fifth Consecutive Year

Westminster, MD – Westminster property owners will pay the same real property tax rate as they have for the last four years, after the Mayor and Common Council approved the Fiscal Year 2018 budget on May 8, 2017.

Westminster’s FY 2018 operating and capital budgets total $74.46 million. Budget highlights include funding for:

? A $5.0 million bond issue for an expanded street overlay program;

? A survey to gather residents’ opinions across a range of community issues;

? Consulting services to advise and assist City staff in updating the City’s Sign Code; and

? A Main Street Speaker Series to help local merchants identify their needs and provide speakers to address those needs.

The budget also includes funding for benefited City employees to receive a three-percent step increment, assuming satisfactory job performance.

The real property tax rate will remain at $0.56 per $100 of assessed valuation for FY 2018. Personal property tax rates will remain unchanged as well.

The adopted budget for FY 2018 continues the existing water and sewer rates. Rate studies will be performed during the fiscal year, which will provide the basis for establishing rates in FY 2019 and subsequent years.

The Mayor and Common Council held two work sessions to discuss the FY 2018 budget. Community members had the opportunity to provide input on the budget proposal at two public hearings.

With regard to the budget’s adoption, Common Councilmember Robert Wack, who serves as Chair of the Finance Committee, stated, “Once again, the hard work of City staff has produced a budget that the citizens of Westminster can be proud of. It continues the never ending process of improving City services, addresses maintenance needs as well as future growth, and continues the recent policy of prudent management of reserves and contingency funds."

Councilmember Greg Pecararo added, “I'm very pleased that the Mayor, Council, and staff have worked together to develop a budget for the coming year that meets the growing needs of the City for infrastructure and services while holding the line on taxes. Through careful management, we absorbed the shock of the last decade's economic recession, and are now financially strong and prepared for the future.”

Additional Info...
Facebook Twitter Google Plus Email

Other News in Home