Monday, May 20, 2024 | Baltimore, MD
FOLLOW US:

Montgomery County Council caps development impact tax rate at 20%

June 27, 2023

The Montgomery County Council unanimously voted June 20 to cap the county’s development impact tax rate for transportation and public school improvement at 20%. The tax is placed on new development projects in the county to help provide more funding for transportation and public school improvement projects. The council was required by county law to vote on a cap for the increase after the county’s director of finance, Michael Coveyou, published new impact tax rates as of May 1. The county’s impact tax rate is adjusted yearly based on inflation, in keeping with county law.

Article Source: MOCO360

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.