Reply to Explain why Kensington can limit tax increases to 5% while other places in MD can sock you for 10%

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Reply to "Explain why Kensington can limit tax increases to 5% while other places in MD can sock you for 10%"

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[quote=Anonymous][quote=Anonymous]Just curious as to how Kensington is able to limit their property tax increases to 5% while many other areas in MD, even within MoCo, can gouge their residents for giant property tax increases every year based on 10% limits to increases in property assessments.  Why can't everyone else in the state get as good as a deal as Kensington? Yes, it is nice when home values go up, but those are often unrealized gains, and home owners who have been living in an area for a long time can get crushed with tax increases that are largely driven by speculators pumping up property valuations.  Huge tax increases completely destabilizes housing for many people.  [/quote]

The law leaves it up to counties and municipalities to set a homestead credit percentage between 100 and 110%. Lots of places set it at 110%, Kensington sets it at 105%. Other municipalities, outside Montgomery County, set it differently: https://dat.maryland.gov/realproperty/Documents/Homestead_Percent_Caps.pdf

Ultimately though it's because they're representatives decided to set it where they did and other people's set it differently.[/quote]

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