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Council Decides on FY18 Tax Rate
Town of Cheverly 
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In the April 27th Work Session the Town Council set the FY18 Tax Rate at 54 cents. This is a reduction 2 cents from the current 56 cents.  The result of this action is that the average Cheverly resident will experience a 3.75% tax increase.    


On average a Cheverly home's assessment value will increase by increase by 7.0% in FY  18.  Therefore, the Council would have had to reduce the tax rate to 52 cents to have taxes remain flat.   


The chart below show the Total Property Tax collected by the town of Cheverly.  The amount collected in FY18 has grown by 12% over FY12.  Please note that from FY12 through FY15 property tax collected was virtually flat.  


FY12    3.084M
FY13    2.944M
FY14    2.928M
FY15    2.928M
FY16    3.184M
FY17    3.337M
FY18    3.464M


Establishing the Tax Rate is one element of the budget process, the Council will continue to work on the budget during the month of May and the budget will be finalized during the June 8th Town Meeting.  





 
Cheverly Executive Offices:   6401 Forest Road, Cheverly, MD 20785  (301) 773-8360
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