Sykesville cuts tax rate, posts budget surplus

December 04, 1997

Sykesville has reduced the property tax rate and posted a budget surplus for the second consecutive year.

An independent audit of town finances recently identified a $170,000 surplus in the $1.2 million budget for fiscal 1998, which began July 1 and included a 2-cent reduction in the tax rate.

The rate of 77 cents per $100 of assessed value is 7 cents lower than it was three years ago.

When Mayor Jonathan S. Herman announced last year's $300,000 surplus, he predicted another tax-rate reduction would follow.

Town officials reduced the property tax rate by 4 cents in fiscal 1997 and trimmed 1 cent the year before.

Sykesville residents also pay a county property tax of $2.62 per $100 of assessed value.

"We will amend the budget and dedicate a lot of the surplus to the reserve fund," said Matthew H. Candland, town manager.

Much of that fund will go to the town's efforts to revitalize the Main Street business center.

Candland credits a strong economy, a cost-conscious town staff and an increase in impact fees charged on new construction.

"Sykesville's economy is successful now," Candland said. "We have had a lot of growth."

Fire

Gamber: Firefighters responded at 6: 02 p.m. Tuesday to a field fire in the 4100 block of Louisville Road. Units were out 32 minutes.

Pub Date: 12/04/97

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