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The original item was published from 3/8/2022 3:03:00 PM to 4/8/2022 12:00:02 AM.

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MML eBulletin

Posted on: March 7, 2022

[ARCHIVED] Constant Yield Bill Being Referred to Summer Study

As introduced, HB 445 sought to change the public notice language that local governments are required to publish in a newspaper if they intend to set a property tax rate above the constant yield rate.

The constant yield rate is the property tax rate needed to collect the same property tax revenues as the prior year, regardless of new construction, improvements, annexations, or property values simply rising during an SDAT assessment. Under current law, the public notice that local governments are required to advertise calls anything above the constant yield rate a “property tax increase” even if the rate remains the same or is lower than the prior year.

Since its inception, this process has been unnecessarily confusing for residents and elected officials. MML testified that Delegate Smith’s bill would at least help with the confusion and consternation of residents who often incorrectly assume their property tax rates are being raised.

There appeared to be an appetite to effect greater change on the constant yield process generally in both the House and Senate committee hearings, which was a welcome discussion. The House Local Revenues Subcommittee considered amendments to make a change in the notice language this year while studying greater changes over the interim, but ultimately decided it would be better at this point to send it to a formal study in the interim. MML appreciates the opportunity to take part in those discussions alongside the House Ways and Means Committee, MACo, and SDAT.

If you have any questions about HB 445 or the constant yield tax rate, please contact Justin Fiore at

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