Town of Port Deposit

FOR IMMEDIATE RELEASE

May 7, 2025

Town of Port Deposit Announces Continued Reduction in Property Tax Rate for Fiscal Year 2026

Port Deposit, MD – The Town of Port Deposit is pleased to announce a continued reduction in the municipal property tax rate for the upcoming fiscal year 2026. Effective July 1, 2025, the new property tax rate will be $0.4835 per $100 of assessed value, representing a decrease of $0.0283 from the previous year. Since FY 2022, the Mayor and Town Council have reduced the property tax rate by a total of $0.0617, which equals an 11.1% reduction over that period. This tax rate reduction was made possible in part by the addition of new taxable buildings on the Bainbridge property, which has expanded the Town’s tax base. This reduction in the tax rate may help offset increases in assessed property values, lessening the financial burden on residents. Additionally, the Town has not only been able to maintain service levels while lowering the rate, but has also strategically advanced key community projects. These include stormwater infrastructure improvements on Granite Avenue and Race Street, the development of engineering plans for Marina Park improvements, initial implementation of the Hopkins Quarry Park Plan and adding additional funds to the home improvement grant program, to name a few. In addition to the property tax reduction, the Public Utility Tax Rate will remain at $2.20. The Refuse Rate will increase modestly to $310 per unit annually, up from $290, due to rising service costs from the Town’s trash provider. Boat trailer parking fees remain unchanged at $50 for the annual rate and $10 for the daily rate. Deputy Mayor Brown stated, “The Mayor and Council remain focused on transparency, efficiency, and long-term planning, ensuring that tax revenues are used to enhance infrastructure, maintain services, and support Port Deposit’s unique identity as a historic, riverside community.”

Contact:

Mayor Wayne Tome, Jr.

Town Administrator Vicky Rinkerman

vrinkerman@portdeposit.org

(410) 378-2121