RESOLUTION NO. 4-04

A RESOLUTION TO INCREASE THE TOWN CONSTANT YIELD TAX RATE

Introduced by: TOWN COUNCIL

WHEREAS, the Constant Yield Tax Rate for the Town has been at its current rate of $0.256 (25.6 cents) since July 2000; and

WHEREAS, the tax rate for the Town is among the lowest in the State of Maryland;

WHEREAS, the Town of Forest Heights is exempted from Section 6-308 of the Tax-Property Article, Annotated Code of Maryland, that requires a Constant Yield Tax Rate which will produce the same revenue in the coming taxable year that was produced in the prior taxable year;

WHEREAS, the streets in the Town of Forest Heights are in dire need of repair;

WHEREAS, the Town services are underfunded;

NOW THEREFORE, BE IT RESOLVED by the Mayor and Town Council of the Town of Forest Heights, Maryland that the Constant Yield Tax Rate is hereby increased by $0.21 from $0.256 to $0.466 to provide additional essential revenue to fund its services and repair its infrastructure.

AND BE IT FURTHER RESOLVED that this Resolution shall take effect July 1, 2004.

PASSED this  21st day of April 2004.

APPROVED:

PAULA R. NOBLE Mayor

CARMELITA SMITH-BARNES, President of the Town Council

ATTEST:

BONITA ANDERSON, Town Clerk