Montgomery County Executive Isiah Leggett announced Wednesday that he has trimmed the residential property tax increase he proposed last month, citing new state legislation that eases fiscal fallout from last year’s Supreme Court ruling that Maryland’s income tax system was unconstitutional.
It was Leggett’s second consequential economic message this week. On Tuesday, he said he supported a $15-an-hour minimum wage for the county, provided it is phased in over at least six years and that increases can be delayed if economic conditions deteriorate.
Leggett (D) told the County Council on Wednesday that he reduced the property tax increase included in the 2017 budget he submitted last month from 8.7 percent to 6.4 percent. It drops the property tax rate increase from 3.9 cents per $100 assessed valuation to 2.1 cents.
With rising assessments, it means that the average annual residential tax bill would rise just under $242 a year, from $3,749.50 to $3,991.42 — instead of $4,075.
Leggett said he was able to lower his proposed increase after learning that Maryland Gov. Larry Hogan (R) will not veto legislation extending the period during which the county would receive reduced revenue distributions from the state because of the Wynne case.
Click here to read the rest of the article written by Bill Turque over at the Washington Post