Pocomoke City, Maryland

Notice of Public Hearing

Pocomoke City Mayor & Council

Thursday, May 25, 2023 at 6:30 p.m.

Fair Summary

CITY OF POCOMOKE NOTICE OF A PROPOSED
NONOWNER-OCCUPIED REAL PROPERTY TAX INCREASE

The Mayor and City Council of Pocomoke City proposes to increase non-
owner-occupied real property taxes.
1. For the tax year beginning July 1, 2023, the estimated real property
assessable base will increase by 9.26%, from $150,821,601 to
$164,790,336.
2. If Pocomoke City maintains the current tax rate of $1.1311 per $100
of assessment, real property tax revenues will increase by 9.26%
resulting in $158,000 of new real property tax revenues.
3. In order to fully offset the effect of increasing assessments, the real
property tax rate should be reduced to $1.0352, the constant yield tax
rate.
4. The City is considering not reducing its real property tax rate enough
to fully offset increasing assessments. The City proposes to adopt a real
property tax rate of $1.1511 per $100 of assessment. This tax rate is
11.19% higher than the constant yield tax rate and will generate
$190,958 in additional property tax revenues.
A public hearing on the proposed real property tax rate increase will be
held at 6:30 P.M., on May 25, 2023 at the Pocomoke City Hall, 101 Clarke
Avenue, Mayor and Council Chambers, Pocomoke City, Maryland 21851.
The hearing is open to the public and public testimony is encouraged.
Persons with questions regarding this hearing may call (410) 957-1333
ext.106 for further information.

CITY OF POCOMOKE NOTICE OF A PROPOSED OWNER
OCCUPIED REAL PROPERTY TAX INCREASE

The Mayor and City Council of Pocomoke City proposes to
increase owner-occupied real property taxes.
1. For the tax year beginning July 1, 2023, the estimated
real property assessable base will increase by 6.50%, from
$113,630,378 to $121,012,151.
2. If Pocomoke City maintains the current tax rate of $0.9375
per $100 of assessment, real property tax revenues will increase
by 6.5% resulting in $69,204 of new real property tax revenues.
3. In order to fully offset the effect of increasing assessments,
the real property tax rate should be reduced to $0.8803, the
constant yield tax rate.
4. The City is considering not reducing its real property tax rate
enough to fully offset increasing assessments. The City proposes to
adopt a real property tax rate of $0.9375 per $100 of assessment.
This tax rate is 6.50% higher than the constant yield tax rate and
will generate $69,204 in additional property tax revenues.
A public hearing on the proposed real property tax rate
increase will be held 6:30 P.M., on Thursday, May 25, 2023 at
the Pocomoke City Hall, 101 Clarke Avenue, Mayor and Council
Chambers, Pocomoke City, Maryland 21851.
The hearing is open to the public, and public testimony is
encouraged. Persons with questions regarding this hearing may
call (410) 957-1333 ext.106 for further information.

Mayor & City Council