[CGC] TOWN OF CENTREVILLE NOTICE OF A PROPOSED REAL PROPERY TAX INCREASE

[Administrator]

The Town Council of Centreville proposes to increase property taxes.

1. For the tax year beginning July 1, 2007 the estimated real property 
assessable base will increase by 13.7%, from $331,501,391 to $376,840,091.

2. If the Town of Centreville maintains the current tax rate of $0.47 per 
$100 of assessment, real property tax revenues will increase by 13.7% 
resulting in $213,092 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 $0.413, the constant yield tax rate.

4. The Town is considering not reducing its real property tax rate enough to 
fully offset increasing assessments. The Town proposes to adopt a real 
property tax rate of $0.47 per $100 of assessment. This tax rate is 13.8% 
higher than the constant yield tax rate and will generate $213,092 
additional property tax revenues.

A public hearing on the proposed real property tax rate increase will be 
held at 6:30 p.m. on June 7, 2006 at the Goodwill Fire Department, 212 
Broadway, Centreville, MD 21617.

The hearing is open to the public, and public testimony is encouraged. 
Persons with questions regarding this hearing may call 410-758-1180 for 
further information.