Town government · Montgomery County, MD

Somerset's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2022), Somerset took in $2.5 million and spent $1.7 million.

Latest recorded year: ended June 30, 2022Comes fromGoes to

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Where it comes from

Town taxes70%Federal tax money27%State tax money1.7%Fines and other0.6%Fees for services (parks and recreation)0.4%

What stands out

42%

of Somerset's money comes from a personal income tax.Most U.S. cities, towns and villages of under 10,000 people get none.

Town taxes70%

Individual income tax
42%$1.1 million
Property tax
27%$658 thousand
Other taxes
1.4%$34 thousand
What's in other taxesPublic utility licenses and other licenses
  • Public utility licenses$17 thousand
  • Other licenses$17 thousand

Amounts are by Census tax category.

Fees for services0.4%

Fees for services
0.4%$10 thousand
What's in fees for servicesParks and recreation
  • Parks and recreation$10 thousand

Amounts are by Census type of charge.

Federal tax money27%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
27%$668 thousand

State tax money1.7%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
1.7%$43 thousand

Fines and other0.6%

Interest, rents and other
0.6%$15 thousand

Where it goes

Running the government and other costs33%Parks, recreation and libraries29%Police, fire, courts and jails16%Water, sewer, trash and utilities12%Roads, transit and parking6.4%All other spending3.0%

What stands out

29%

of Somerset's spending goes to parks, recreation and libraries.A typical U.S. city, town or village of under 10,000 people spends 2.2%.

Spending by category100%

Running the government and other costs
33%$561 thousand
What's in running the government and other costsOther and not broken out; government buildings and 1 more
  • Other and not broken out$470 thousand
  • Government buildings$57 thousand
  • Finance, tax collection and budgeting$34 thousand
Parks, recreation and libraries
29%$497 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$497 thousand
Police, fire, courts and jails
16%$266 thousand
What's in police, fire, courts and jailsCourts and legal services; inspections and regulation and 1 more
  • Courts and legal services$117 thousand
  • Inspections and regulation$85 thousand
  • Police$64 thousand
Water, sewer, trash and utilities
12%$211 thousand
What's in water, sewer, trash and utilitiesGarbage and solid waste
  • Garbage and solid waste$211 thousand
Roads, transit and parking
6.4%$108 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$108 thousand
Interest on debt
2.5%$43 thousand
Housing and community development
0.4%$7 thousand
Sources and moreWhere these numbers come from and what they cover

Town of Somerset. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended June 30, 2022. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of Town of Somerset itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.