As of September 1, 2016, Montgomery County, MD passed a 3.2B fund that will help our public school system. But guess what – it has to be paid for!
Part of the 3.2B will come from a property tax increase of approximately 6-9% for homeowners. Additionally, for buyers, the state recordation tax which is part of your closing costs, will increase by approximately $500 for a $500,000 home. Contact us to discuss more!