Budget Town Hall

Brought to you by

Community Vision for Takoma

*This meeting is being recorded

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• In recent years, the City has generally been spending more than it takes in.
• We have been dipping into the City's reserves for operating expenditures.
• When property taxes go up, landlords are more likely to raise rents.

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Key Facts

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Impact of City Manager’s Proposed Tax Hike

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City staff have proposed a tax rate of 0.5705. We estimate this would increase property taxes, on average, by just over 10%.

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Remember:

Tax Rate x (Assessed Home Value ÷ 100) = Tax Owed

Trends in Takoma Tax Rates and Tax Revenues

Has The City Spent More Than It Has Taken In?

Close up view of revenue and expenses

*If not for the infusion of ARPA funds, this 2022 number would also have been a deficit.

2018 Council Resolution: Reserve Fund

NOW, THEREFORE BE IT RESOLVED that the Takoma Park City Council:

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1. shall set the General Fund Unassigned Fund Balance to be no less than two months (17%) of the General Fund revenue amount, unless a special situation justifies a lower amount;

2. shall issue a public statement, at the time the budget for a Fiscal Year is approved by the Council, identifying the special situation that justifies a lower amount, if the General Fund Unassigned Fund Balance is set lower than the established minimum (17%);

3. strives to raise the General Fund Unassigned Fund Balance to the minimum (17%) within three (3) years whenever the balance falls below minimum.

Adopted this 16th day of May, 2018

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Are We Meeting the 17% Goal?

Unassigned Reserve Balance as % of General Fund Revenue

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Budget year ending… Unassigned Reserve Percent of Total Revenue

06/30/21 $7,109,661 27.9%

06/30/22 $4,598,441 16.4%

06/30/23 (projected) $3,240,800 11.6%

06/30/24 (proposed) $3,943,366 13.4%

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Budgeting Principles

• We need to live within our means.
• We need to confirm that community needs are being met – in the most efficient way.
• We need to be mindful of the burden of tax increases on residents: both homeowners and renters.
• Then we can better assess if we really need to increase property taxes.

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How much does Takoma Park spend on police cars?

FY22

• $374,079 to purchase and outfit:
• Five Ford Interceptor Hybrid SUVs & one Ford F-150 pickup truck

FY23

• $470,553 projected cost to purchase and outfit:
• Five Hybrid SUVs & two more patrol cars

FY24

• $577,600 proposed budget:
• Seven patrol cars, one parking enforcement van, one car, one small police van

Approximately 43 police officers, 30 of them in “operations,” and 59 total police vehicles

Some Questions for Your Consideration

• What are ways to reduce costs without firing people?
• How do we create a more transparent, accountable budget?
• Should we survey residents about the services we need, want?
• Should we explore services that could be provided by County?
• Should we explore starting the annual budget process earlier?

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Discuss…

Tax Worksheet

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Determine your property tax bill using the tax rate in the City’s proposed FY24 Budget:

1. Find the assessed value of your home effective July 1, 2023.

You can find it by going to https://sdat.dat.maryland.gov/RealProperty/Pages/default.aspx

2. Divide by 100, or drop the last two digits (for instance, $636,051 becomes $6360).

3. Multiply that number by the tax rate proposed by the (acting) City Manager (.5705) or any other tax rate you want to test out.

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Equation:

Assessed Value _________

Divide by 100 or drop the last two digits ________

Multiple by tax rate (for instance .5705) __________

= Your Tax Bill ___________

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How to make a comment at a Council meeting

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• To comment in person, attend the City Council meeting and approach the podium when public comments are announced. Advance registration is not needed.
• To comment over Zoom, you must register no later than 5 PM on the meeting day. The registration link is found on the City Council Meeting Agendas page.
• Comments are strictly limited to three (3) minutes or less. If you have more to say, supplement your comments with a written statement.
• Do submit your comments for the record in writing by email, in addition to (or instead of) making oral comments. Submit to clerk@takomaparkmd.gov.

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Mayor and Council contact information

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Mayor Talisha Searcy: talishas@takomaparkmd.gov 202-339-7914

Ward 1 Councilmember Shana Fulcher: shanaf@takomaparkmd.gov 240-935-7896

Ward 2 Councilmember Cindy Dyballa: cindys@takomaparkmd.gov 240-320-6494

Ward 3 Councilmember Randy Gibson: Randallg@takomaparkmd.gov 240-935-7897

Ward 4 Councilmember Terry Seamens: Terrys@takomaparkmd.gov 240-956-9916

Ward 5 Councilmember Cara Honzak: Carah@takomaparkmd.gov 240-935-7894

Ward 6 Councilmember Jason Small: Jasons@takomaparkmd.gov 240-935-7894

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Using Zoom:

When you register on Zoom for the meeting, you will receive an email with information on how to join the meeting.

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City Council meetings are set up as “webinars” so that people viewing the meeting or expecting to comment can only view the meeting until it is time for public comments. At that point, anyone who registered to comment will be brought into the meeting and allowed to turn on their video and audio when called upon.

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You are not required to turn on your video but may do so if you wish.

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In order to ensure you have the best viewer experience, residents attending the City Council meetings on Zoom should pin the video/box “auditorium.” To do so, please follow these steps: 1. At the top of your zoom meeting window, hover over the video or box that reads “auditorium”. 2. Click on the three dots on the top right-hand corner of that box “auditorium” and select pin. This will enable you to view the dais where the council members and the mayor will be speaking. 3. If you choose to do so, you can unpin the box “auditorium” by hovering over and clicking the three dots again and selecting unpin. This will default you to the “presentation” box, where you can see the PowerPoint slides being presented.

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Contact Jessie Carpenter at 301-891-7267 or email clerk@takomaparkmd.gov if you have questions.

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https://takomaparkmd.gov/government/city-council/meetings-and-documents/current-and-past-agendas/public-comments-at-city-council-meetings/

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Budget Process Schedule, FY 2024

Monday, April 17 – City Council Budget Work Session, 7:30 p.m.

• Work Session: Operations Budget

Wednesday, April 19 –City Council, Regular Meeting, 7:30 p.m.

• Public Hearing on the Proposed Budget

• Work Session: Operations Budget and Capital Budget

Monday, April 24 – City Council Budget Work Session, 7:30 p.m.

• Work Session: ARPA Budget

Wednesday, April 26 – City Council Regular Meeting, 7:30 p.m.

• Work Session: Budget Reconciliation

Budget Process Schedule, FY 2024 (cont.)

Monday, May 1 – City Council Budget Public Hearing and Budget Work Session, 7:30 p.m.

• Public Hearing: FY 2024 Tax Rate (Constant Yield Tax Rate)

• Public Hearing: FY 2024 Budget

• Work Session: Budget Reconciliation

Wednesday, May 10 – City Council Regular Meeting, 7:30 p.m.

• First Reading Ordinances Adopting the FY 2024 Tax Rates, the FY 2024 Stormwater Management Budget, and the FY 2024 Budget

Wednesday, May 17 – City Council Regular Meeting, 7:30 p.m.

• Second Reading Ordinances Adopting the FY 2024 Tax Rates, the FY 2024 Stormwater Management Budget, and the FY24 Budget

+*Info from City of Takoma Park Newsletter, April 2023

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