[UPDATE] On May 9, the council voted 7–4 to increase the recordation tax premium rate while leaving the base rate and school implement rate unchanged.
This past week, a second round of delays for school construction projects were considered by the Montgomery County Council due to lower revenue projections. In light of these pending delays, the County Council is looking at raising the progressive recordation tax—a fee you pay when you buy a house or refinance above the original cost of the house.
Read more