Constant Yield Tax Rate
July 1, 2023
NOTICE OF A PROPOSED REAL
PROPERTY TAX INCREASE
In the last taxable year, the County Real Property Tax Rate was $1,00 per $100 of assessment, and the certifies assessment of the net assessable real property was $2,154,811,498. To produce the same real property tax revenues as las year, the real property tax rate would be .9704 per $100 of assessment. This rate is called the constant yield rate.
For this taxable year, the actual real property tax rate is $1.00 per $100 of assessment, which is different from the constant yield rate. The rate is 3.1% more than the constant yield rate and will produce in real property tax revenues $638,343 more than would be produced by the constant yield rate.
There are certain municipalities within the County which have different county tax rates. The above revenues and tax rates are county wide, excluding municipalities with different county tax rates. The following chart provides the corresponding information and tax rates for those municipalities.
| Area of Dorchester County | (a) Percentage Increase (Decrease) in Base | (b) Previous Assessable Base | (c) New Assessable Base | (d) Current Tax Rate | (e) Percentage Increase (Decrease) in Revenue |
| Countywide Excluding Cambridge & Hurlock | 3.1% | 2,090,977,181 | 2,154,811,498 | 1.0000 | 3.1% |
| Cambridge | 1.5% | 879,978,160 | 892,920,165 | 0.9267 | 1.5% |
| Hurlock | 4.1% | 130,326,949 | 135,729,546 | 0.9179 | 4.1% |
| Area of Dorchester County | (f) Increase (Decrease) in Revenues | (g) Constant Yield Tax Rate | (h) Proposed Tax Rate | (i) Percentage Higher, (Lower) than Constant Yield | (j) Additional, (Loss) Property Tax Revenues |
| Countywide Excluding Cambridge & Hurlock | 638,343 | 0.9704 | 1.0000 | 3.1% | 638,343 |
| Cambridge | 119,934 | 0.9133 | 0.9267 | 1.5% | 119,934 |
| Hurlock | 49,590 | 0.8814 | 0.9179 | 4.1% | 49,590 |