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Wise Use of Your Tax Dollars
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Wise Use of Your Tax Dollars Susan has demonstrated wise spending of your tax dollars by voting to achieve a structurally balanced budget instead of deficit spending. She continues to align her priorities on the Board of County Commissioners with those of her constituents including voting for a funding formula for full funding of the Board of Education, voting to increase law enforcement and for other public safety, voting to keep a 100% volunteer Fire and Rescue Service, voting to lower the Admissions and Amusement tax rate, voting for the Homeowner Tax Credit extension to keep Calvert families in their homes, and voting for the 2004 Comprehensive Plan and voting to overhaul the Zoning Ordinance and Calvert County government to bring them into the 21st century. By Choosing Susan, you choose wise use of your tax dollars including:
• A structurally balanced budget for FY2007 and beyond
When Susan was sworn is as a County Commissioner in December, 2002, she inherited a Calvert County operating budget showing $12.8 million in deficit spending in the middle of FY2003 By June 30, 2003, with Susan in office for 6 months, Calvert County closed out the FY2003 budget year with an $11.3 million operating deficit, a $1.5 million savings in that current budget year. Susan and the majority of the Board of County Commissioners voted to begin FY2004 (July 1, 2004) with a balanced operating budget due to a mixture of enhanced revenues and reduced spending across almost all budget line items and an austere program of seeking budget efficiencies Susan voted against raising the admissions and amusement tax from 1% to 10%, a 900% increase (Vote 4 to 1) Susan and the majority of the Board of County Commissioners voted to use prior fund balance (savings) to cover one-time capital expenditures , which is pay-go funding of capital projects
• 21st Century Fiscal Management Tools Budget Process Multi-Year Forecasting Monthly Financial Reports Comprehensive Annual Financial Report Contingency Planning Fund Balance Reserve Financial Models for:
- Water and Sewer rates
- Solid Waste Rates
- Tax/Permit Yield Test
- Debt Affordability Guidelines
Rapid Debt Retirement Debt Disclosure Policies 6 – Year Capital Improvements Projects (CIP) Budget Pay-Go Capital Projects CIP operating cost projections
• An award-winning budget and audit process provided by a finance and budget staff that is nationally recognized for excellence • Bond ratings that maintain low interest rates on county debt Susan accompanied the Board of County Commissioners to meet with New York bond rating agencies each year since elected (3 times to Wall Street in NYC and once in Solomons) The Bond Ratings are the result of a give and take process, are based on a plethora of factors, including education and experience of County Commissioners and senior staff, and are equivalent to a report card for Calvert County fiscal management Calvert County’s bond rating has increased each year to current ratings of:
- Standard & Poor’s Rating: “AA” Rating, Outlook “Stable”
- Fitch Ratings: “AA+” Rating, Outlook “Stable”
- Moody’s Investor Service Rating: “Aa2” Rating
These ratings are superior for a county of Calvert’s size and reflect all “A’s” on our report card As a result of the high ratings, Calvert County has gotten low interest rates on bonded debt and now has many financial institutions bidding for our bonds, saving the taxpayers millions in interest over the life of the bonds See Calvert Life Monthly Article, What’s So Special About a Bond Rating?
• Keeping the tax burden low The property tax rate in Calvert County has remained constant at .89 since 1987 Calvert County’s real property tax rate of .89 is ranked 21st out of 24 jurisdictions in MD, or 4th from the bottom Calvert’s income tax rate of 2.80% is ranked 16th in a 3-way tie with Cecil and Washington Counties with only 6 counties lower Calvert County’s recordation tax on property transfers is in the first 6 in MD and benefits from rising property assessments when property is sold Calvert County has no transfer tax, while 18 MD counties do assess a transfer tax Calvert County’s hotel tax of 5.0% is tied for 7th with 12 other counties; only 5 other counties have a lower hotel tax 911 fees are the same for the entire state of MD except for Howard and Anne Arundel, which assess $.65 and $.50 instead of $.75 on the monthly telephone bill Calvert County’s tax burden (as a whole) is 6th from the bottom in MD Calvert County’s tax burden is less than surrounding jurisdictions, including the two Calvert County municipalities Under Maryland law, the Personal Property Tax Rate paid by businesses is calculated based on the real property tax rate. By not raising the real property tax rate since 1987, the county has kept the tax burden on local businesses constant since 1987, helping to grow the commercial tax base
• Spending priorities that match those of Calvert County Citizens:
Effective and efficient government
Finding and maintaining efficiencies in Calvert County government to keep government administrative costs low Employing highly qualified department heads that are committed to be responsive to citizens Stressing ethics as the highest priority Promoting customer service as a culture Streamlining government processesUtilizing the expertise of volunteer boards and commissions to make government work for the people it represents
More Information Coming . . .
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