WASHINGTON COUNTY APPROVED BUDGET
FY 2026
Revenue Detail
Property Tax
Change
Category
2024 Budget 2025 Budget 2026 Budget
$
%
Real Estate Property Tax
129,946,870
138,750,570
153,773,680
15,023,110
10.83%
Corporate Pers. Property Tax
15,477,230
16,154,320
16,154,320
0
0.00%
State Administrative Fees
(550,000)
(575,000)
(1,118,830)
(543,830)
94.58%
Interest - Current Year
345,000
345,000
350,000
5,000
1.45%
Interest - Prior Year
50,000
50,000
50,000
0
0.00%
Payment in Lieu of Taxes
285,000
285,000
300,000
15,000
5.26%
Enterprise Zone Tax Reimb.
902,650
593,970
1,381,990
788,020
132.67%
Property Tax Sales
60,000
75,000
100,000
25,000
33.33%
Enterprise Zone Tax Credit
(1,805,300)
(1,187,930)
(2,763,980)
(1,576,050) 132.67%
Agricultural Tax Credit
(450,000)
(460,000)
(500,000)
(40,000)
8.70%
County Homeowners Tax Credit
(165,000)
(155,000)
(155,000)
0
0.00%
Disabled Veteran's Credit
(360,000)
(450,000)
(550,000)
(100,000)
22.22%
Other Credits
(20,000)
(650,000)
(2,436,000)
(1,786,000) 274.77%
Discount Allowed - Property Tax
(365,000)
(385,000)
(400,000)
(15,000)
3.90%
Federal Payment in Lieu of Taxes
25,700
29,190
30,140
950
3.25%
Total
143,377,150 152,420,120 164,216,320 11,796,200 7.74%
Property taxes are the largest source of revenue available to the County and represent taxes assessed on real and personal property. Property taxes make up approximately 50.8% of General Fund revenues. Property assessments are performed on a triennial basis by the State of Maryland, Department of Assessments and Taxation to determine the property value for taxing purposes. Tax billings and collections of the County share of property taxes are performed by the County. During the FY2023 budget process the Commissioners voted to decrease the real property tax from $.948 to $.928, and it will remain at this rate for FY2026. The real estate tax due is determined by multiplying the assessed value of the property by the tax rate of $.928 for each $100 of assessed value. Property tax is estimated at $164.2 million for FY2026, which is an increase of $11.8 million or 7.74 %. The increase is a result an increase in the County’s taxable base because of reassessments. Property taxes are estimated by several methods, including trend analysis, economic analysis, and real estate analysis. The primary means, however, are the assessments provided by the Maryland Department of Assessments and Taxation, and full details are provided on their website at https://dat.maryland.gov/Pages/Statistics-Reports.aspx.
2026 Budget Document
58
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