The Charles County Commissioners today adopted the fiscal 2016 budget. The Commissioners approved a $365.7 million General Fund budget, an increase of only three percent over fiscal 2015, without raising property tax and income tax rates. More than 70 percent of the General Fund budget is allocated for education and public safety, including funding for the Charles County Public Schools, College of Southern Maryland, and Charles County Sheriff’s Office.
The fiscal 2016 budget closes an estimated $7.9 million gap. To balance the deficit, the Commissioners adopted several funding solutions, including enacting a one half of one percent real property transfer tax to fund education, specifically adding a fourth class to St. Charles High School. Other funding solutions included restructuring debt service and transferring funds.
The remainder of the transfer tax revenue will be used to offset Watershed Protection and Restoration Fund expenses. Residents will see a 25 percent savings in stormwater remediation fees. Final execution of the transfer tax will come after a public hearing on Wednesday, June 24 at 6 p.m. Seventeen Maryland counties, and Baltimore City, exercise their authority to levy a transfer tax on real property transactions.
View full budget – link text to http://www.charlescountymd.gov/fas/budget/budget