Understanding the Budget

The budget is prepared over several months and involves the Department of Finance, the County Manager, County Council, county departments, other stakeholders and the citizens of Talbot County. 

Listed below are the steps to the process: 

1. December Department of Finance prepares preliminary revenue outlook and determines availability of resources.
2. January Each county department and agency works to prepare budget requests that are presented to the Department of Finance, the County Manager, and their staff.
3. February Department of Finance and County Manager work with Departments and Agencies to finalize their requests.
4. March - Early April Council, working with guidance from Department of Finance and County Manager review budget requests, and ask follow up questions from departments and agencies.
5. Early April Council introduced the Budget Ordinance, essentially the final draft of the budget.
6. May Council holds public hearings, giving residents, departments, and agencies time to share their funding requests and concerns with the County Council. 
7. Late May Council votes on final budget, additional legislation is prepared for capital enabling legislation and considered by Council. The new budget goes into effect on July 1.

Talbot County's top two revenue sources are property tax and income tax.

In FY2024, Property Tax revenues were projected to generate $56.9 million, or 44.1 percent of total revenues. Local income tax is projected to generate 31,000,000 or 24.1 percent of total of total revenues. Prior year reserves add an additional 15 percent, and other local taxes make up about 9.3 percent of total. Service charges, license and permits, federal and state grants, transfer from other funds, and other make up the final 7.2 percent of revenues.

See the 2024 Budget here.

In FY2024, the top three budget items were education, public safety, and general government. 

Education received the largest portion, $54,000,000, or 42.1 percent of the total General Fund budget. Public Safety, which includes 11 new full-time positions, accounts for 23.5 percent. The general government makes up 11.9 percent.

See the 2024 Budget here.

Talbot County has the lowest property tax rate in the state, and the second lowest income tax rate.

We take pride in our fiscally conservative approach to the budget, using appropriated funds for top priorities as outlined by the citizens such as emergency services and public safety, improving infrastructure, education, and maintaining a dynamic workforce.