FY 25 Harford County Approved Operating Budget

HARFORD COUNTY MARYLAND FISCAL YEAR 2025 BUDGET SUMMARY

Harford County is committed to Agricultural Land Preservation. An allocation of $19,150,000 is provided for the purchase of Ag Preservation easements.

Ag Preservation - State FY 25 Approved Budget FY 24 Approved Budget

270,000 0.03% of the Total All Funds FY 25 Operating Budget 270,000 0.03% of the Total All Funds FY 24 Operating Budget

$ Decrease % Decrease

0

0.00%

Harford County's Agricultural Program is Certified. Therefore, the program can retain 75% of the Agricultural Transfer Tax collected. For FY 25, it is projected that the County's Share of the State Agricultural Tax will be $270,000. The County will use $30,000 of this revenue to offset the salary and benefits of a Planner III, who serves as Harford County's Program Administrator. Harford County's match to Maryland Agricultural Preservation Foundation (MALPF) for easement purchases the foundation makes on the County's behalf will be $240,000.

Tax Increment Financing FY 25 Approved Budget FY 24 Approved Budget

2,500,000 0.26% of the Total All Funds FY 25 Operating Budget 2,665,000 0.28% of the Total All Funds FY 24 Operating Budget

$ Increase % Increase

(165,000)

-6.19%

The Beechcreek Estates Tax Increment Fund is a special fund authorized by Bill 10-10. The Bill provided that the County could not issue more than $14 million for Beechcreek Estates in special obligation bonds to finance or reimburse the cost of the public improvements benefitting the district. The Bill also pledged the real property taxes collected with respect to the tax increment of properties in the discrict to payment of the bonds to be issued and also authorized the imposition of a special tax on properties within the distrcit to the extent the tax increment received is insufficient to pay debt service on the bonds and other allowable costs and expenses. The bonds are not an indebtedness of the County for which the County is obligated to levy or pledge, or had levied or pledged, ad valorem taxes or special taxes of the County other than the real property taxes representing the levy of the tax increment on properties located in the development district or the special taxes. The bonds shall be a special obligation of the County and will not constitute a general obligation debt of the County or pledge of the County's full faith and credit or taxing power.

Watershed Management Fund FY 25 Approved Budget

7,729,000 0.79% of the Total All Funds FY 25 Operating Budget 6,006,000 0.62% of the Total All Funds FY 24 Operating Budget

FY 24 Approved Budget

$ Increase % Increase

1,723,000

28.69%

This fund formerly titled Stormwater Management Fund is a special account for deposit of a certain portion of the recordation tax, $0.55 for each $500 of the sale price (or lien amount) for each property deed recorded. The proceeds of this fund are used for the County's watershed protection and restoration program as mandated under State of Maryland law. The State requires a separate fund be established for this purpose.

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