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Frederick News

Posted on: March 31, 2023

Mayor O'Connor announces FY24 budget

Mayor Michael O'Connor is proud to present his proposed budget for The City of Frederick's Fiscal Year 2024 today, March 31, 2023. This budget, which is now open for public feedback and discussion, is one that positions The City of Frederick for an even brighter future that is vibrant, equitable, sustainable, and resilient.  

“As many of our residents know, a growing city has growing needs … and to meet those needs requires visionary leadership. My fiscal year 2024 budget isn’t just a budget that meets those needs, but it is one that invests in Frederick's future," said Mayor O'Connor. “Our current year’s budget is making critical investments in our workforce, public safety in policing, public works, and transportation infrastructure, and advancing equity initiatives. These areas remain priorities for FY 24 as we also look toward enhancing sustainability and climate resilience, the quality of life of our residents and neighborhoods, and investing in Frederick's future."

The FY 24 budget suggests a general fund budget of $137 Million. It is based on maintaining the current municipal property tax rate of $0.7305 per $100 of assessed value for the 11th consecutive year. It also further continues the 10-year phase-out of the business personal property tax, which is in year nine. The general fund budget plus the budgets for water and sewer, stormwater, parking, the Weinberg Center for the Arts, airport, golf course, and reserves total $202.5 Million. The detailed allocations within the budget are focused on remaining flexible and responsive to the changing needs of our community.    

Mayor O'Connor provides an overview of the budget's most significant commitments in the video below: 

As the budget is finalized, there is also still time to provide your input. The City encourages and invites all in our community to participate in this budget process. Please review the full budget available at frederickmd.gov/fy24budget. You can submit comments in writing via the "feedback" button and participate in our upcoming budget discussions on April 5, April 13, April 18, April 19, April 27, May 1 and May 9. 

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