FY 25 Harford County Proposed Capital Budget & Capital Improvement Program

DEDICATED CAPITAL FUNDING

Harford County has three revenue streams that are dedicated to funding school capacity and modernization projects and/or the debt service incurred for them, park and recreation facilities, and the preservation of agricultural farm land. The following pages provide an explanation of their origin, the taxes, and the details of which ones have been appropriated for FY 24. RECORDATION TAX The Annotated Code of Maryland, 1957, as amended, Article 81 Section 277 provides counties with the authority to establish a recordation tax "upon every instrument of writing conveying title to real or personal property, offered for record and recorded in this State with the clerks of the circuit courts of the respective counties, . . . The term 'instruments of writing' shall include deeds, mortgages, chattel mortgages, bills of sale, leases, deeds of trust, contracts and agreements, . . ." The Harford County Council established a Recordation Tax, via Resolution No. 10-79, effective July 1, 1979, on instruments recorded among the Land Records of Harford County which convey title to real property and on instruments securing a debt.

The Annotated Code of Maryland Section 12-113 requires the proceeds from Harford County's Recordation Tax be: I deposited in a special capital improvement fund for: o payment of the principal and interest on school construction debt

o new school construction o portable classrooms

o major improvements and capital improvements to existing school facilities

II deposited in a fund for land and recreation open spaces: o to purchase park lands and develop park and recreation facilities as separate units or as a part of a public school facility o to pay loans made for those purchases o to match any funds provided for those purchases III dedicated (per Resolution No. 005-15) at a rate of $.55 to fund the implementation of local watershed protection and restoration projects throughout Harford County.

The Recordation tax rate is $3.30 per $500 of the transaction value and is divided as follows:

Public School Debt Service and/or Construction

$2.20

67.0% 16.5% 16.5% 100.0%

Program Open Space or Parks and Recreation Capital Projects

0.55 0.55

Watershed Management

$3.30

For FY 25 Recordation Tax revenues are appropriated as follows: Harford County's FY 25 Operating Budget

$12,170,000

From FY 25 Estimated Recordation Tax Receipts:

$12,170,000

Board of Education Debt Service

$10,670,000

Principal Payments Interest Payments

$9,075,376 1,594,624 $10,670,000

Watershed Management Debt Service

$1,500,000

Harford County's FY 25 Capital Budget

$4,665,000

Parks & Recreation Projects

$4,665,000

ADA Improvements Blake's Venture Park

205,000 100,000 250,000 150,000 (177,156) 350,000 150,000 (122,174) 122,174 (200,000) 200,000 50,000 290,000 50,000 25,000

Perryman Park Development Playground Equipment

400,000 777,156 120,000 150,000 1,150,000 250,000 300,000

Eden Mill Park Rehabilitation

Robert Copenhave Park Improvements SWM Pond Repair & Renovations

Edgely Grove Farm

Edgewood Rec & Community Center Emmorton Rec & Tennis Center Improve.

Tennis/Multipurp/Pickleball Trails and Linear Parks

Facility Repairs & Renovations Foster Branch Dredging Gunpowder River Dredging 12 Gunpowder River Dredging New

Vale Road Park

Gymnasium Floor Repair & Renovations Heavenly Waters Park - Soma 16

Heavenly Waters Park - Soma

Park Improvements Parking Lot Paving Parkland Acquisition

75,000 Total Recordation Tax revenues appropriated for Fiscal Year 2025

$16,835,000

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