Anne Arundel County has changed the assessable base for tax revenue for Crofton by eliminating the Homestead Credit. The change is for all special taxing districts.
Assistant Town Manager Susan Myers tells the Crier that Crofton no longer subtracts from the budget the Homestead Credit claimed by residents. Prior CSCBD budgets used an assessable base of home values minus the Homestead Credits.
Assistant Town Manager Myers adds that the change makes it harder to compare the assessable bases for prior CSCBD budgets. For example, the assessable base in the FY 2015 budget is $1,017,300,000 at .086 rate. The assessable base for FY 2014 budget was $803,700,000 at a .096 rate. For the FY 2015 CSCBD budget, Crofton residents pay annual taxes of approximately $300, reports Myers.