The City of Frederick shall have the power to levy annually on the assessable property in said city and collect such taxes as in its judgment may be necessary to pay all the debts, obligations, and expenses of the city government which have been or may hereafter be lawfully incurred. From the effective date of the budget, the amount stated therein as the amount to be raised by the property tax shall constitute a determination of the amount of the tax levy in the corresponding tax year.
As a part of its taxing power the City of Frederick shall have the power to levy and to collect a general assessment on all real property in Frederick to pay for the construction and/or maintenance of water mains, sewer mains, public ways, sidewalks, curbs, gutters, and storm water sewers. This general assessment need not be on the basis of assessed valuation of the property but may be on any equitable basis determined by the board of aldermen. (Acts 1951, Ch. 539, § 107)