Sunday, February 28, 2016

Civic Federation: Protect Montgomery County homeowners by capping assessment increases at 5%

Maryland's homestead property tax credit is a cap that helps protect people from being taxed out of their homes during times of rising property assessments. The default cap is 10% but most counties in Maryland have chosen a much lower percentage to better protect their homeowners. Now that property values are recovering, it is time for Montgomery County's homeowners to have better protection. Five percent is a cap level that has worked well in counties across the state and even in the Town of Kensington.

The Montgomery County Council has never chosen to protect homeowners in this way, but our Montgomery County Delegates and Senators can do it by passing MC 28-16 (HB1078), a bill limiting assessment increases to 5%.

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