Voters in Montgomery County, Maryland, will have a chance in November to weigh in on how the property tax is calculated, but first the council has to vote on one of two new plans.
The Montgomery County Council and County Executive Marc Elrich agree a new method for calculating property taxes should be implemented, but each has their own proposals.
Elrich said his plan would limit an annual increase in the taxable value of residential properties from the current amount allowed of up to 10% to 3%, but it would only allow for an increase if at least six of the nine council members voted in favor.
The county council’s plan wouldn’t increase the average weighted tax rate, which is 98 cents per $100 of a property’s value, unless the entire council voted in favor of it. Currently, only a majority vote is needed.
At Tuesday’s council meeting, a majority of residents spoke in support of Elrich’s proposal and urged the council to adopt it.
The final plan approved by the council would be placed on November’s general election ballot.