Sykesville will reduce its property tax rate by 2 cents. The rate will be 7 cents lower than it was three years ago.
The Town Council set the rate at 77 cents per $100 of assessed value in the $1.2 million fiscal 1998 budget, which takes effect July 1.
"We can lower the tax rate and meet the goals and objectives regarding spending and capital projects," said Councilman Michael Burgoyne, chairman of the budget committee.
The council included a few amendments Monday before approving the budget. Based on a recommendation from the six-member committee, the council decided to pay off an $8,500 debt for renovations to the old train station, saving $4,400 in interest over 13 years.
Officials also voted to transfer money from the contingency fund for expected increases in engineering and legal fees.
Mayor Jonathan S. Herman called the budget "a model document for towns in general."
"It makes it possible to get an understanding of the town history, its present situation and where it is going," the mayor said.
Pub Date: 6/12/97
