Rockville Examines City Budget

Rockville City Council members, along with Rockville’s mayor, took a look at the city’s tentative $112 million budget on Monday, March 19th. The tentative budget is in the works for the fiscal year of 2014, according to rockville.patch.com. The first public hearing on the proposed budget took place April 1st, with approvals from both the Rockville mayor and Rockville City Council members set to take place in May. The official fiscal year of 2014 begins July 1st, according to rockville.patch.com.

Rockville’s projected 2014 fiscal year budget includes added revenue from red light camera violations, miscellaneous taxes, and additional funding from the state, which all resulted in a 4.5 percent increase from the 2013 fiscal budget. Rockville City council members voted on a 2014 fiscal year budget that will include $111.9 million.

Much of Rockville’ s added revenue also came from highway user revenue, including vehicle registration fees and gasoline taxes that are collected by the state of Maryland. The 2014 fiscal state budget proposed by Maryland Governor Martin O’Malley aims to invest additional funds toward highway user revenue. The increase in funds would bring the total for the highway user budget to $1.6 million. Early estimates for this budget came in at $507,100, a clear increase. The governor’s budget could also bring additional funds to the state’s police protection grant. Anticipating to receive $417,000 for the fiscal year of 2014, Rockville could potentially be granted $620,000 for additional state budget funds.

If you are interested in learning more about the great homes and properties in the Rockville area, please do not hesitate to contact us. We would be excited to share with you all of the Rockville area real estate opportunities that currently exist on the market.

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