By: Mike Kennedy mkennedy@railey.com 301-616-6106 June 16th, 2009 Category: Deep Creek Lake Real Estate, Garrett County News, Garrett County Real Estate, News

At today’s public meeting, the Garrett County Commissioners approved the county’s 2010 fiscal year budget and real property tax rate.

The real property tax rate will be reduced to $0.99 per $100 of assessed property value - down from the current $1.00 per $100 of assessed value - but significantly higher than the $0.946 constant yield rate.

This means that all Deep Creek Lake and Garrett County property owners will pay an additional $2.6 million combined in real estate and property taxes in the next fiscal year.

The commissioners also approved a budget that is $28 million less than the amended 2009 fiscal year budget. As with most other counties in Maryland, the belt tightening has begun here as well. The local county government is in the process of looking for ways to reduce expenses and delay projects in anticipation of fewer revenues from the state.