Rockville City Hall

Rockville Adopts $118 Million FY 2015 Budget

Rockville residents will pay the same property tax rate in Fiscal Year 2015 as they did last year, after the Mayor and Council Monday approved a budget that keeps the property tax rate steady for the seventh consecutive year.

Rockville’s FY15 operating budget equals $118 million. It maintains current city programs and services and gives a 2 percent cost of living adjustment to city employees, as well as the potential for a lump sum bonus based on established pay plans. The FY15 budget represents a 3.6 percent, or $4.1 million, increase over the Fiscal Year 2014 budget. The General Fund budget, the fund that supports the largest portion of the operating budget, equals $70.4 million, an increase of 2 percent. The 2015 fiscal year begins July 1 and ends June 30, 2015.

Property tax rates will remain the same for the seventh consecutive year, at $0.292 for real property and $0.805 for personal property. Each of these rates is per $100 of assessed value. The FY15 budget continues the city’s supplement to the State of Maryland’s Homeowner’s Tax Credit, which provides real property tax credits to low- to moderate-income homeowners for taxes due on their principal residence.

The adopted budget includes increases in water and sewer rates, the ready-to-serve charge and the stormwater management fee, according to a plan approved by the Mayor and Council in May 2012. The budget also includes an increase of $7 per year for recycling and refuse services.

Based on the adopted FY15 rates, the average residential bills for city utilities will increase by approximately $6.35 per month, an increase of 6.5 percent over the current average.

The Capital Improvements Program (CIP), the city’s five-year plan for funding new construction and infrastructure maintenance, increased by 11.2 percent, to $74 million. Forty-seven projects will be funded by the CIP, which is being supported by a $5.9 million transfer from the General Fund and a $3.5 million taxpayer-supported bond issue.

The Mayor and Council heard from the public at a series of hearings in March, April, and May, and received written comments through May 6.

To learn more about the city’s FY15 budget, visit or call the Finance Department at 240.314.8400.


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