The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Economic Importance of Deep Creek Lake (10.10.2013)
1. THE ECONOMIC IMPORTANCE
OF DEEP CREEK LAKE
Garrett County
Department of Economic Development
October 10, 2013
2. COUNTY TAX REVENUE – 2013 BUDGETED
Trailer
$38,000
Recordation
$1,900,000
Coal Tonnage
$170,000
Gas
$1,500
Accommodation
$1,900,000
Transfer
$1,200,000
Ag
$7,500
Coal Severance Tax
$30,000
911
$264,000
Amusement
$700,000
Income Tax
$10,100,000
TOTAL BUDGETED REVENUE: $59,740,486
Source: Garrett County Finance Office
Real Property Tax
$43,429,486
72.7% of total revenue
3. REAL ESTATE TAX REVENUE - 2013 BUDGETED
Balance of County
$19.18 Million
District No. 18
$25.66 Million
Source: Garrett County Finance Office
25. Source: Maryland Department of Assessments & Taxation, Property Sales Database
3rd Qtr 2013
2nd Qtr 2013
$2.8
$8.2
$7.3
$6.0
$6.0
$5.6
$4.6
$4.7
$3.2
$2.2
$1.1
$3.2
$7.6
$6.0
$9.0
1st Qtr 2013
4th Qtr 2012
3rd Qtr 2012
2nd Qtr 2012
$1.1
$2.1
$1.7
$3.6
$2.3
$4.9
$4.0
1st Qtr 2012
4th Qtr 2011
3rd Qtr 2011
2nd Qtr 2011
$1.0
$2.7
$2.0
$5.5
$3.0
1st Qtr 2011
Total Dollar Amount of Sales (Millions)
TOTAL DOLLAR AMOUNT OF RESIDENTIAL UNIMPROVED REAL ESTATE SALES
ENTIRE COUNTY
DCL
$8.0
$7.0
$6.0
$5.0
$-
26. SUMMARY
Deep Creek Lake has significant economic
impact and helps Garrett County lead the 9county region by most economic indicators
(unemployment, income, etc.).