SS/taxcred.pr       96-105    Contact:  David Weaver, 301-217-6548
                                          (Pager:  301-629-8940)
DUNCAN SIGNS HOMEOWNER'S
TAX CREDIT BILL INTO LAW      For Immediate Release:  March 16, 1996

     Montgomery County Executive Douglas M. Duncan today signed into law the
Homeowner's Property Tax Credit program, legislation to provide tax relief to
residential property owners on the first $60,000 of assessed value on their
homes.   Under Maryland law, assessments are based on 40 percent of the market
value of a property. 
     "I've worked very hard since coming into office to provide property tax
relief to our residents.  And I think the operating budget I released this
week -- which, for the second year in a row, called for a freeze in the
property tax rate -- demonstrates that.  My only concern with this program has
been how to fund it, but I trust the Council will make that determination in
its upcoming budget deliberations.  The budget I submitted to the Council
already closed an $87 million projected gap between revenues and expenditures. 
I'm confident that they can find the other $5 million or so that would be
needed to offset the cost of this program."  
     The County Council recently approved the bill to create the property tax
credit program by a 5-4 vote.  It was sponsored by County Council member Neal
Potter and co-sponsored by Council President Gail Ewing and County Council
member Derick Berlage.
     The County program will supplement the State's Homeowners Property Tax
Credit program, which only provides a tax credit to households with incomes up
to $30,000 a year.  Up to $36,000 of a homeowner's income would be eligible
for a tax credit, under the new County initiative.


DUNCAN SIGNS PROPERTY TAX CREDIT LEGISLATION                     2-2-2

     Duncan also announced today he has signed into law the bill which
carried out his plan to reorganize two existing County departments and part of
a third into a new Department of Public Works and Transportation.

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