Baltimore County taxpayers can expect a lean, well-balanced budget with no new taxes and heavy spending on school construction and community projects such as libraries and parks, officials said.
“This is a continuation of the renaissance of Baltimore County and provides both the basics and the amenities that meet our expectations for the quality of life,” said Baltimore County Executive Jim Smith, who will present his budget in his fifth annual State of the County address today.
Smith said it was a significant challenge to bring the county in line with new federal regulations that require governments to fund future retiree health and life insurance benefits on an accrual basis. His budget last year included a $103 million down payment on the county?s estimated $2 billion liability.
Public employees will face increased health care costs phased in over the next five years and, in some cases, increased minimum retirement ages, according to labor leaders. All employees can expect a cost-of-living adjustment, officials said.
Five of the six labor bargaining units agreed to the proposed changes as of Monday. Michael Day, president of the county?s firefighters union, said the contract was ratified Friday.
“I would rather have money set aside for the future for my benefits for me and my wife into our golden years,” Day said. “I think it?s fiscally prudent and sound judgment to address things now instead of waiting for them to fester up.”
The County Council will hold a series of public hearings on Smith?s proposed budget and must adopt one by June 1.
Smith last year unveiled a conservative $2.4 billion budget that kept the property and income tax rates the same as during the last 17 and 13 years, respectively. Council members later adopted a 1 1/2-cent property tax cut, the first since 2001.
