Title
A Resolution increasing the County income tax rate to 3.20% of the State taxable income.
Background
This resolution will increase the County income tax rate from 3.10% to 3.20% of State taxable income. Pursuant to Section 10-106(b) of the Tax-General Article of the Annotated Code of Maryland, the tax rate increase will become effective January 1, 2009 and is projected to generate approximately $6.5 million in FY 2009 and $13 million on an annual basis.