Montgomery County Tax Hike

The Montgomery County Council approved a 8.7 precent property tax hike that could impact your small business.

The law is set to take effect in the next fiscal year, 2017.  It also will increase the closing cost for those who buy and sell homes in the county.

The tax hike will mean an average of $326.00 in property tax increases for the average homeowner in the county.

Recordation fees are county taxes that are paid when the property is sold.  This fee will depend on the value of the property being sold.  This fee will also increase.

Sources:
Montgomery County Council Budget

By Wendy Stewart