Title
A RESOLUTION CONCERNING THE APPROVAL OF THE FISCAL YEAR 2024 WASHINGTON SUBURBAN TRANSIT COMMISSION BUDGET AND TAX RATES for the purpose of approving the Washington Suburban Transit Commission's administration of the County's Fiscal Year 2024 Mass Transit Plan; approving the levy of property tax rates necessary to support the expenses and obligations of the Commission including County mass transit operations; and approving the Commission’s administrative budget.
Background
This resolution provides for certifying the dedicated property tax rates for transit activities by the Washington Suburban Transit Commission (“WSTC”), approving the levy of property tax rates necessary to support the expenses and obligations of the Commission, approving the budget for the County's Mass Transit Plan, and formally approving the WSTC's administrative budget, as approved in the Prince George's - Montgomery Bi-County Council meeting of May 11, 2023.
The tax levy of two and six-tenths cents ($0.026) per $100 of assessed valuation of real property and six- and one-half cents ($0.065) per $100 of assessed valuation of personal property and operating real property is the County’s share of the total WSTC budget of $343,396,426. The County’s share of the Approved FY 24 WSTC Administrative Budget is $127,893.