Reply to MoCo looking at increasing income taxes for those making above $150K

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]WTF  $150K here is nothing.  Is this $150K for single filers?

MoCo keeps increasing taxes rather than thinking about cutting the budget.  And the kids are not doing any better year after year of giving MCPS more money.

So sick of this place.

https://bethesdamagazine.com/2026/05/08/straw-vote-divided-county-council-supports-progressive-income-tax-structure/[/quote]

This is funnier:

[quote]The ITOC is a $692 property tax credit for homeowners who claim their home as their principal residence. It used to be automatically applied to qualifying county property tax bills, but homeowners now have to fill out a one-time application to receive it.

Elrich has spoken out on multiple occasions against the proposed elimination of the ITOC, which he says will result in most homeowners paying more than they would under his proposal to raise the property tax rate.

Supporters of the proposed elimination of the ITOC emphasize that the credit does not benefit everyone, including people who qualify but may not be aware of it.

“Unfortunately, it doesn’t provide the credit equally to everyone,” Balcombe said on Friday. “Renters don’t get this credit, it is owner-occupied eligible only.” [/quote]

Renters don't need the credit because they don't pay property taxes in the first place. Idiots.[/quote]

Property taxes are paid from rental income, idiot [/quote]

Property taxes have nothing to do with what rent costs. Rents are set by the market irrespective of costs. [/quote]

Recent empirical work finds that property tax shocks are passed through to renters to a meaningful extent, especially for new leases and in markets where landlords have pricing power. One study found pass-through of about 50 to 89 cents per $1 of property tax shock for new tenants in Berkeley.[/quote]

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