Action this week by the Montgomery County Council suggests that the county may implement a 4.2 cent increase in its countywide tax rate. From the Gazette:
In separate decisions Wednesday, the Montgomery County Council indicated its intention to approve an increase in the county’s property tax rate this year and cutbacks in government employee benefits.
The tax hike the council appears to favor is a 4.2 cent increase per $100 of assessed property value — raising the rate from 90.4 cents to 94.6 cents.
Most property tax bills in the county will go up less than 1 percent.
The tax increase was first proposed by County Executive Isiah Leggett (D) in March, and will become part of the council’s final fiscal 2012 budget action May 26.
A property tax credit — $692 for all homeowners — would stay the same, under the preliminary vote taken Wednesday.
The rate increase maintains the county’s property tax revenue in fiscal 2012 at the rate allowed under the county charter — $1.46 billion.
Montgomery County is one of five charter counties in Maryland with property tax restrictions embedded in the county charter, but the only one where a supermajority of the Council may override the limitations.
