Please Sir, May I Have Another! Part Trois! “Le Trifecta de Whammy”

May 15, 2023

Kevin, Kevin, Kevin!

Kevin is getting tired of receiving his initiation rites to live in Montgomery County! Aren’t You?

Last week, the Council voted in BIG INCREASES in YOUR Transfer and Recordation Taxes.

Please see Part Deux of our series: “Please Sir, May I Have Another!”

Here is Part Trois—What are Impact Taxes and how did I get here?

County Executive Marc Elrich

These increases were little known or debated. BUT YET ANOTHER HOUSING COST INCREASE is rising by 9.47% for a Transportation Impact Tax (to include bike lanes, Purple Line, solar bus depots, but no road or bridge improvements). And a School Impact Tax is rising by 40-70% (Woodward High School costs $196,000,000 and this is rapidly rising). There is a great background article on the subject in the Montgomery Perspective https://montgomeryperspective.com/2023/05/08/school-impact-taxes-set-to-skyrocket/

In short, it’s bad, really bad. Think we are kidding? Say you want to build your dream home or buy a newly constructed condo? Get a gander at these direct costs ADDED to any new building in Montgomery County. These increases go into effect on JULY 1, 2023! Go ahead and ADD IT ALL UP. These are NEW Recordation and Transfer Tax increases plus a Real Estate Tax Increase à la Elrich.

AT THE BOTTOM OF THE CHARTS IS CONTACT INFORMATION FOR THE COUNCIL MEMBERS. SO CALL THEM UP, AND LET THEM KNOW HOW YOU FEEL.