Notice of Adoption of the FY 2013 Budget
Posted 6/5/2012

NOTICE OF ADOPTION OF A CITY OF GAITHERSBURG ORDINANCE

Pursuant to provisions Section 41 and Section 11 of the City of Gaithersburg City Charter, notice is hereby given that the Mayor and Council of Gaithersburg adopted Ordinance No. O-5-12, on June 4, 2012, effective July 1, 2012, entitled:

 ORDINANCE ADOPTING THE CITY BUDGET
FOR THE FISCAL YEAR JULY 1, 2012, THROUGH
JUNE 30, 2013, AND LEVYING AN AD VALOREM TAX ON
ALL ASSESSABLE PROPERTY WITHIN THE CITY OF
GAITHERSBURG, MARYLAND

With a levy on all of the assessable real property within the City an ad valorem tax at the rate of Twenty-six and Two/Tenths Cents ($.262) on each One Hundred Dollars ($100) of assessed value of said property, and there is hereby levied an ad valorem tax on the tangible personal property subject to taxation by the City, except for exempt manufacturing equipment, manufacturing inventory and commercial inventory of corporate and unincorporated businesses, at the rate of Fifty-Three Cents ($.53) on each One Hundred Dollars ($100) of assessed value of such tangible personal property.

The ordinance adopts the imposition of a full year, one-half year, three-quarter year and one-quarter year tax levies authorized pursuant to Title 10, Sections 10-102, 10-103, 10-104 and 10-105, Tax Property Article, Annotated Code of Maryland, as amended, and authorizes and empowers Montgomery County, Maryland, to collect and remit the same to the City of Gaithersburg, consistent with the imposition and collection of such levies on real property by Montgomery County.

This Ordinance was adopted on June 4, 2012, and will become effective July 1, 2012, the date on which the 2013 fiscal year budget begins.  The adopted budget is as follows:

ANTICIPATED REVENUE

ADOPTED EXPENDITURES

Copies of the adopted budget will be available online on July 20, 2012, and can be viewed at ww.gaithersburgmd.gov/budget.

Angel L. Jones
City Manager