Developers, you’ll be paying more to build in Montgomery County.
The Council Council on Tuesday approved, unanimously and with little discussion, revised development impact tax rates. The rates, for both the school and transportation-related taxes, are changed every two years.
Since 2005, development impact taxes have raised $211.1 million for schools and $113.2 million for transportation. The numbers vary greatly year over year. The school tax generated $45.8 million in fiscal 2014, for example, but only $23.3 million in fiscal 2016.