County Fiscal Information for the Combined Education Committee - - PowerPoint PPT Presentation

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county fiscal information for the combined education
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County Fiscal Information for the Combined Education Committee - - PowerPoint PPT Presentation

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County Fiscal Information for the Combined Education Committee August 3, 2016 Op Plan Summary In Millions FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Revenues $388.4 $395.5 $406.5 $417.0 $432.1 $449.6 388.4 395.5 406.5 415.3 430.4 446.0

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SLIDE 1

County Fiscal Information for the Combined Education Committee

August 3, 2016

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SLIDE 2

Op Plan Summary

In Millions

FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Revenues

$388.4 $395.5 $406.5 $417.0 $432.1 $449.6

Expenditures

388.4 395.5 406.5 415.3 430.4 446.0

Balance

$0 $0 $0 $1.7 $1.7 $3.6

% of Budget

0.0% 0.0% 0.0% 0.4% 0.4% 0.8%

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SLIDE 3

County Budget History

In Millions FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Budget $353.0 $354.5 $349.0 $350.3 $361.7 $367.1 $368.5 $380.0 Annual Change 24.6 1.5 (5.5) 1.3 11.4 5.4 1.4 11.5 BOE Funding 162.2 167.7 164.9 163.5 168.9 169.1 171.0 176.2 Annual Change 13.0 5.5 (2.8) (1.4) 5.4 0.2 1.9 5.2

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SLIDE 4

Revenue

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SLIDE 5

Major Revenues

  • Property tax is more than 50% of our revenue
  • Property and income taxes more than 87%
  • Adding recordation brings it to more than 90%
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SLIDE 6

Operating Budget Revenue

In Millions High FY 16 Actual Difference Total Property Tax $205.8 $197.5 ($8.3) Recordation 22.8 14.0 (8.8) HUR 11.8 1.0 (10.8) Investment Income 8.6 0.8 (7.8) Building Permits 1.4 0.5 (0.9)

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SLIDE 7

Revenue

  • Property tax

– Real property - $1.018/$100 of assessed value – $0.01 is approximately $1.8M – Watershed Restoration Fund

  • Personal property - $2.515/$100
  • Income tax – 3.03% of State taxable income,

approximately $400,000 for every 0.01%

  • Recordation tax - $5.00/$500 or 1%
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SLIDE 8

Taxes

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SLIDE 9

Tax Rate Changes

  • The changes total approximately $7M/year.
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SLIDE 10

SUBDIVISION FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 ALLEGHANY 0.9829 0.9820 0.9810 0.9800 0.9790 0.9780 ANNE ARUNDEL 0.880 0.910 0.941 0.950 0.943 0.923 BALTIMORE CITY 2.268 2.268 2.268 2.248 2.248 2.248 BALTIMORE COUNTY 1.100 1.100 1.100 1.100 1.100 1.100 CALVERT 0.892 0.892 0.892 0.892 0.892 0.892 CAROLINE 0.870 0.870 0.890 0.940 0.960 0.980 CARROLL 1.048 1.028 1.018 1.018 1.018 1.018 CECIL 0.915 0.940 0.9907 0.9907 0.9907 0.9907 CHARLES 0.962 1.003 1.057 1.141 1.141 1.141 DORCHESTER 0.896 0.976 0.976 0.976 0.976 0.976 FREDERICK 0.936 0.936 0.936 1.064 1.060 1.060 GARRETT 0.990 0.990 0.990 0.990 0.990 0.990 HARFORD 1.042 1.042 1.042 1.042 1.042 1.042 HOWARD 1.014 1.014 1.014 1.014 1.014 1.014 KENT 1.022 1.022 1.022 1.022 1.022 1.022 MONTGOMERY 0.904 0.946 0.9910 1.010 0.996 0.987 PRINCE GEORGE’S 0.960 0.960 0.960 0.960 0.960 1.000 QUEEN ANNE’S 0.7671 0.8471 0.8471 0.8471 0.8471 0.8471

  • ST. MARY’S

0.857 0.857 0.857 0.857 0.857 0.8523 SOMERSET 0.884 0.884 0.884 0.915 0.915 1.000 TALBOT 0.432 0.448 0.491 0.512 0.527 0.536 WASHINGTON 0.948 0.948 0.948 0.948 0.948 0.948 WICOMICO 0.759 0.769 0.8404 0.9086 0.9516 0.9516 WORCESTER 0.700 0.700 0.770 0.770 0.770 0.835

County Property Tax Rates (Non-Municipal Areas) For Fiscal Years 2011 Through 2016

SOURCE: Maryland Association of Counties / Department of Legislative Services, Budget and Tax Rate Survey, August 2015

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SLIDE 11

SUBDIVISION CY 2011 CY 2012 CY 2013 CY 2014 CY 2015 CY 2016 ALLEGHANY 3.05% 3.05% 3.05% 3.05% 3.05% 3.05% ANNE ARUNDEL 2.56% 2.49% 2.56% 2.56% 2.56% 2.50% BALTIMORE CITY 3.20% 3.20% 3.20% 3.20% 3.20% 3.20% BALTIMORE COUNTY 2.83% 2.83% 2.83% 2.83% 2.83% 2.83% CALVERT 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% CAROLINE 2.63% 2.63% 2.63% 2.73% 2.73% 2.73% CARROLL 3.05% 3.05% 3.05% 3.04% 3.03% 3.03% CECIL 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% CHARLES 2.90% 2.90% 2.90% 3.03% 3.03% 3.03% DORCHESTER 2.62% 2.62% 2.62% 2.62% 2.62% 2.62% FREDERICK 2.96% 2.96% 2.96% 2.96% 2.96% 2.96% GARRETT 2.65% 2.65% 2.65% 2.65% 2.65% 2.65% HARFORD 3.06% 3.06% 3.06% 3.06% 3.06% 3.06% HOWARD 3.20% 3.20% 3.20% 3.20% 3.20% 3.20% KENT 2.85% 2.85% 2.85% 2.85% 2.85% 2.85% MONTGOMERY 3.20% 3.20% 3.20% 3.20% 3.20% 3.20% PRINCE GEORGE’S 3.20% 3.20% 3.20% 3.20% 3.20% 3.20% QUEEN ANNE’S 2.85% 3.20% 3.20% 3.20% 3.20% 3.20%

  • ST. MARY’S

3.00% 3.00% 3.00% 3.00% 3.00% 3.00% SOMERSET 3.15% 3.15% 3.15% 3.15% 3.15% 3.15% TALBOT 2.25% 2.25% 2.40% 2.40% 2.40% 2.40% WASHINGTON 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% WICOMICO 3.10% 3.10% 3.20% 3.20% 3.20% 3.20% WORCESTER 1.25% 1.25% 1.25% 1.25% 1.25% 1.75%

Local Income Tax Rates Rates as Percentage of Maryland Taxable Income Tax/Calendar Years 2011 Through 2016

SOURCE: Maryland Association of Counties / Department of Legislative Services, Budget and Tax Rate Survey, August 2015

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SLIDE 12

Back to Revenue

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SLIDE 13

Revenue

  • Property tax

– Three assessment groups – Increases are phased in over three years – Decreases are phased in immediately – Homestead Credit – Other credits

  • Employment
  • Green
  • Fallen Hero
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SLIDE 14

Reassessment History

45.00% 35.00% 28.00% 9.10% 1.80%

  • 0.04%

3.30% 6.10% 7.10% 6.40% 6.00% 7.90% 11.70% 15.80% 35.90% 42.20% 54.00% 56.90% 37.40% 5.10%

  • 19.20%
  • 19.60%
  • 15.40%
  • 3.80%
  • 3.00%

4.10% 6.00%

  • 30.00%
  • 20.00%
  • 10.00%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00%

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Assessment Property Tax Rate of Growth

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SLIDE 15

Reassessment History

FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 Group 1 – South Carroll

(19.2%) 0.0% 0.0% (3.8%) 0.0% 0.0% 2.0%

Group 2 – North Carroll

7.0% (19.6%) 0.0% 0.0% (3.0%) 0.0% 0.0%

Group 3 – Westmin/ Taneytown

1.7% 1.7% (15.4%) 0.0% 0.0% 1.4% 1.4%

Annual Growth

(1.5%) (7.7%) (4.9%) (1.0%) (1.3%) 0.6% 0.9%

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SLIDE 16

Reassessment History and Projections

45.00% 35.00% 28.00% 1.80%

  • 0.04%

3.30% 6.10% 7.10% 6.40% 6.00% 7.90% 11.70% 15.80% 35.90% 42.20% 54.00% 56.90% 37.40% 5.10%

  • 19.20%
  • 19.60%
  • 15.40%
  • 3.80%
  • 3.00%

4.10% 6.00%5.00%6.00% 10.00% 6.00% 6.00%

  • 30%
  • 20%
  • 10%

0% 10% 20% 30% 40% 50% 60% 70%

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Assessment Property Taxes

Average 6.1 %%

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SLIDE 17

Reassessments

FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Group 1 – South Carroll 2.00% 2.00% 2.00% 3.33% 3.33% 3.33% Group 2 – North Carroll 0.00% 1.67% 1.67% 1.67% 2.00% 2.00% Group 3 – Westminster Taneytown 1.38% 1.38% 2.00% 2.00% 2.00% 2.00% Annual Growth 1.20% 1.73% 1.89% 2.45% 2.56% 2.56% Annual New Construction $1.2M $1.2M $1.2M $1.2M $1.2M $1.2M

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SLIDE 18

Where Does The Money Go?

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SLIDE 19

State Mandates

  • Autonomous in State law

– Carroll County Public Schools – Carroll Community College – Carroll County Public Library – Election Board

  • State departments

– Health Department – Assessments and Taxation

  • Elected Officials

– Sheriff – State’s Attorney – Circuit Court – Board of Education

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SLIDE 20

Not Mandated, But…

  • Debt service
  • 911
  • Fire and EMS
  • Snow removal
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SLIDE 21

Where Does The Funding Go?

55.8% 13.8% 7.1% 7.5% 15.8% Education Public Safety Public Works Debt Service Everything Else

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SLIDE 22

Growth Rate Assumptions

Department/Agency FY 18 FY 19 FY 20 FY 21 FY 22 Planned Planned Planned Planned Planned

Employee Health Costs 6.5% 7.0% 7.5% 8.0% 8.0% Risk Management (Workers Comp) 5.0% 5.0% 5.0% 5.0% 5.0% Retiree Health Costs 9.0% 9.0% 9.0% 9.0% 9.0% Detention Center (Medical/Food) 4.0% 4.0% 4.0% 4.0% 4.0% Sheriff Services Salary 4.0% 4.0% 4.0% 4.0% 4.0% Independent Post-Audit 3.0% 3.0% 3.0% 3.0% 4.0% Salary and General Operating 3.0% 3.0% 3.0% 3.0% 3.0% Health Department 3.0% 3.0% 3.0% 3.0% 3.0% Board of Education Funding 2.8% 0.8% 2.0% 4.5% 3.8% Funding to Non-Profit Agencies 2.7% 4.0% 3.9% 3.8% 3.7%

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SLIDE 23

History of County Funding to CCPS

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SLIDE 24

History

  • FY 90

45.6%

  • FY 00

47.5%

  • FY 10

47.3%

  • FY 17

46.8%

  • Low

44.0%

  • High

50.9%

  • Average 47.2%
  • 3 years over 50%