There will be no hike in property taxes or town fees for the residents of Princess Anne this fiscal year.
The current fiscal year saw a 16-cent hike just to keep the municipal tax revenue flat after the state dropped the assessment of local property values by 23 percent.
The Salisbury Daily Times reports that the town has been exempted from the constant yield rate a mechanism controls the amount of revenue a city can get from its new property assessments.
The town intends to strike $2.5 million budget for fiscal year 2014 and keep the property tax rate at $1.12 per $100 of assessed value.
Currently the town is just around $53-thousand over budget with a $26-thousand in a contingency fund.
The Town Commissioners this week looked less costly ways to participate in local events.
