The Mayor and Council of the Town of Denton proposes to increase real property taxes.
1. For the tax year beginning July 1, 2022, the estimated real property assessable base will increase by 3.1%, from $390,492,340 to $402,551,880.
2. If the Town of Denton maintains the current tax rate of $0.76 per $100 of assessment, real property tax revenues will increase by 3.1% resulting in $91,653 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 $0.7372, the constant yield tax 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 $0.74 per $100 of assessment. This tax rate is 0.4% higher than the constant yield tax rate and will generate $11,271 in additional property tax revenues.
A public hearing on the proposed real property tax rate increase will be held at 7:00 P.M. on May 5, 2022 at the Denton Town Office, 4 North Second St. Denton, MD 21629.
The hearing is open to the public and public testimony is encouraged.
Persons with questions regarding this hearing may call 410-479-2050 for further information.