|Office of Finance|
Hours of Operation:
Office of Finance
The Finance Department is responsible for all the financial activities of the Town of Elkton. Daily responsibilities include the collection of all Town revenue, disbursement of funds, investment of funds, financial reporting, maintenance of bank accounts, maintenance of general ledger accounts, accounts receivable, payroll processing, and administration and preparation of annual budget.
The major revenue resource for the Town is the annual real estate tax billing which generates approximately 45 % of the general fund revenue collected. Other revenue sources include business taxes, county and state allocations, parking meter and parking ticket revenue, building permits, water and sewer fees and special assessments for hook up to water and sewer systems.
In a 12 month period, the Department will:
1. Process approximately 2,300 accounts payable checks.
2. Process over 600 property transfers.
3. Generate over 24,000 water and sewer bills.
4. Process 1,500 purchase orders.
5. Process over 2,600 payroll checks.
6. Prepare and administer an annual budget exceeding $17,000,000.00.
2012 Comprehensive Annual Report - part 1
2012 Comprehensive Annual Report - part 2
2011 Comprehensive Annual Financial Report - part 1
2011 Comprehensive Annual Financial Report - part 2
Current Rate information
Real Property Tax Rate: $.5856/ $100 of assessment as of July 1, 2013
Personal Property Tax Rate: $1.11/$100 of assessment
The above tax rates are set during the annual fiscal year budget process and are advertised according to law before adoption.
Elkton Meter Rates per Quarter
(effective January 1, 2013)
|Minimum 9,000 Gal./Qtr.|
|Exceeding Minimum from 1,000 to 30,000 Gallons|
|$ 4.53||$ 9.06||$ 8.07||$16.14|
|Exceeding Minimum from 30,001 to 100,000 Gallons|
|$ 4.76||$ 9.52||$ 8.47||$16.94|
From 100,001 gallons to 200,000 gallons
|$ 5.00||$10.00||$ 8.89||$17.78|
From 200,001 gallons and greater, a 5% additional incremental rate adjustment per 100,000 gallons, up to a maximum rate of