Reply to Elrich proposes MoCo property tax increase

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[quote=Anonymous]County Council discussed this morning the proposal for the proposed increase to income tax:

Budget gap of around $80M.

Previously proposed property tax increase is off the table.

Concern that a tax retroactive to 1/1/25 would catch those whose jobs have now been eliminated.

Notation that the option for making the tax increase progressive (i.e., local tax brackets) doesn't come into play until 2026.

Extremely tight schedule.  Public hearing 5/13 with Council decision required by 5/15 (per state mandate).  An increase to next year's tax rates would need to be decided by 7/1.

Concern that there isn't good data on which to make a decision -- unemployment, tax receipts, etc. -- and won't be by the time they have to make a decision. (This doesn't seem to apply when they give out special-interest tax breaks and the like, though... ::) )

Worry about flight of wealth -- folks moving to lower tax states/jurisdictions, especially those who might have a second house and choose to spend more than half the days of the year there, then recognizing that as their residence and paying all of their income tax in that jurisdiction.

Plenty of talk about burden and anecdotes about neighbors who've reached out asking for them not to do this, and few seem to favor an increase.  Significant shifting of responsibility away, given what is happening at the Federal level (not that that is incorrect, but it shouldn't then remain improperly addressed by MoCo/MD, IMO).  Nobody wants to cut programs, but reading between the lines, schools would seem to be the most likely to be impacted if they can't figure out a way to raise $ -- one anecdote that didn't seem to gain any traction was about a PTA meeting where members raised their hands when asked if they would support increased tax if it went to schools.[/quote]

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