The County Council of Montgomery County proposes to increase real property taxes.
- 1. For the tax year beginning July 1, 2023, the estimated real property assessable base will increase by 2.9%, from $210,639,687,085 to $216,739,524,527.
- If Montgomery County maintains the current tax rate of $0.6940 per $100 of assessment, real property tax revenues will increase by 2.9% resulting in $42,332,872 of new real property tax revenues.
- In order to fully offset the effect of increasing assessments, the real property tax rate should be decreased to $0.6745, the constant yield tax rate.
- The County is considering not reducing its real property tax rate enough to fully offset increasing assessments. The County proposes to adopt a real property tax rate of $0.7700 per $100 of assessment. This tax rate is 14.2% higher than the constant yield tax rate and will generate $206,986,246 in additional property tax revenues.
The entire County Council staff memo is at: https://www.montgomerycountymd.gov/council/Resources/Files/agenda/col/2023/20230418/20230418_5K.pdf
MoCo Model: Increase taxes and reduce services.
ReplyDeleteCase in point: A neighbor was told it will take 18 months to prune a county tree looming over his roof!
The county currently has a 5 year backlog for stump grinding.
DeleteThis is a case of an imminent calamity waiting to happen.
DeleteHowever, the modus operandi is reactive with a lot of fanfare.