Reply to New MOCo Planning report released

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[quote=Anonymous][quote]MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC. [/quote]

MoCo is nowhere near some of the major income areas but neither are most areas in the DMV. MoCo does have a concentration of high income earners identified in the report as living between Bethesda/CC and Potomac/Traviliah. This groups makes over 250K and has seen the largest income growth. The individuals making 100K-200K are the next big bucket of tax revenue. Their income growth has been relatively flat.

Property taxes are another source of revenue but the report identifies that in MoCo much of the value growth has been pre-2007. In contrast, surrounding areas in the DMV had similar rapid value growth up until 2007 and have surpassed it. So as MoCo's spending, debt service and costs have rose between 2007-2016 -there was no real correlating property tax revenue increase which results in an operating loss.

If the income is stagnant, the property values stagnant since 2007 levels, no business revenue and debt service, operating costs and spending increases -there is a problem. [/quote]

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