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Thursday, May 19, 2016

Montgomery Co. council approves 8.7 percent tax hike

WASHINGTON — Homeowners in Montgomery County should brace themselves for a tax increase: In a vote that signals how the final operating budget will look, the County Council approved a property tax increase that will raise those taxes by 8.7 percent.
And when homes are sold, buyers and sellers will see a jump in the tax they pay. The recordation tax, as it’s known, will increase so that a home valued at $400,000 would see an increase of the recordation tax of $255.
A $600,000 home would see the same tax jump by $805, according to figures provided by the county...

 http://wtop.com/montgomery-county/2016/05/montgomery-co-council-approves-8-7-percent-tax-hike/
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3 comments:

  1. AnonymousMay 19, 2016 at 7:48 PM

    We are in good hands in MoCo, but sometimes all we get is a jump in our taxes.

    ReplyDelete
  2. AnonymousMay 21, 2016 at 9:34 AM

    I wrote almost a year ago that taxes will go sky high based on waste, lawsuits to keep poor residence in their places, and hiring folks not at the skill set required for their positions for high salaries. Brace yourself!!! Sad to say this is round one . Next year will have major shortfalls. If it follows suit with other affluent counties around the east coast. A 600,000 home easily in this environment can have 12,000 or much more in property taxes sooner rather than later. Ask New Jersey and Long Island where equally affluent folks live. Don't try to escape. I hear in N.J. exit fees after a sale have gotten so high that folks are trapped in houses if they want to run to Florida

    ReplyDelete
    Replies
    1. AnonymousMay 21, 2016 at 2:08 PM

      "Steal from the poor and give it to the rich." Hood Robin

      Delete

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