Council Votes to Raise Recordation Tax to Add Funding for @mcps Construction [And MCPS Personnel Because those Costs are Also Hidden in the Capital Budget]

The County Council yesterday voted to raise a tax rate in order to provide additional funding for Montgomery County Schools construction and capital projects, as well as increase funding for rental assistance.

“The recordation tax premium will increase from its current rate ($2.30 per $500) as follows: recordations between $600,000 and $750,000 will be charged $5.75 per $500; those more than $750,000 to $1 million will be charged $6.33 per $500; and those valued at more than $1 million will be charged $6.90 per $500,” the release continues...

Montgomery County council looks to reduce MCPS funding to lower 10% tax hike (fox5dc.com)

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Here's what's hidden in the MCPS Capital Budget, more personnel!  

fy2023_appendix-e_non-operatingbudgetpositions.pdf (montgomeryschoolsmd.org)

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/

Neither sound nor fair...expedited bill...recordation taxes in Mont. Co. already highest in country...

"Chasing away the very families that would benefit from living here"

Apt & Office Building Assocation Opposed to Nancy Floreen' s Tax: Concern about catastrophic defaults

"We should not be pitting schools and parents against Realtors"