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Strong and Prosperous Businesses


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Objective Description

This measure indicates growth in commercial and industrial tax revenue through increases in property values and development of new commercial property. As economic expansion drives higher occupancy levels, the assessed value of buildings or property increases. Higher tax revenues are directly reflective of either higher assessments on existing buildings and/or new commercial development expanding the tax rolls. Such growth helps to diversify the tax base and provide for a more stable source of government revenues.

Trend Analysis

Commercial and industrial property markets in Howard County have been strong with low vacancy rates, driving assessments up in the last few years. This has been a catalyst for new development and with new development recently completed and more under construction, HCEDA anticipates steady increases in commercial and industrial tax revenue in FY19.

Strategies


Source: Maryland Department of Assessment and Taxation, AIMS II report

References

Target = 2.5

Detailed Analysis


Howard County, Maryland

George Howard Building
3430 Court House Drive
Ellicott City, MD 21043 

dash@howardcountymd.gov


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