Believe it or not, too much money can be a problem ? and a nearly $24 million surplus in this year?s budget has Howard County officials stumped on how to handle it.
In his budget draft, County Executive James Robey, D, proposed a 3-cent property tax cut. Robey is running for state senator in District 13, which serves Howard County.
“That?s the number we can afford to cut. … It works better than doing 5 or 10 cents. We always like to finish the year with a surplus, but not a huge surplus,” Robey said. “We will still be creating new positions for the growing demand in the county. … We are expanding a small amount to meet growth we?ve seen.”
The cut would reduce the rate from $1.044 per $100 of assessed value to $1.014.This reduction could save owners of a median-priced house $135 a year; the county would forfeit $9.4 million, said Howard County Budget Administrator Jonathan Seeman.
But Council Chairman Christopher Merdon, R-District 1, said he favors an income tax cut because “it affects more Howard County citizens.” He hasn?t made any formal proposal. Merdon is running for county executive.
Robey?s total proposed budget is more than $727 million, up from last year?s budget of more than $666 million. The surplus resulted from property tax revenue from the housing boom, said Victoria Goodman, the county?s public information administrator.
Howard may use some of the surplus to meet new guidelines on retirement pay, said Sharon Griesz, the county?s finance director.
Budget unveiling
County Executive James Robey will present his county budget at 7 p.m. Monday in the George Howard Building, 3430 Courthouse Drive, Ellicott City.
