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Montgomery County Register Notice |
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MONTGOMERY
Development Impact Tax Rates for
Pursuant to Chapter 52, Sections 57(e) and 90(e) of the Montgomery County Code (Development Impact Tax for Transportation Improvements and Development Impact Tax for Public School Improvements, respectively) the Director of Finance has adjusted the tax rates set under Sections 57(a) and 90(e). As prescribed by law, the Director must adjust the tax rates by the annual average increase or decrease in a published construction cost index specified by regulation for the two most recent calendar years. The Director must calculate the adjustment to the nearest multiple of 5 cents for rates per square foot of gross floor area or one dollar for rates per dwelling unit. Based on the change in the Engineering-News Record's Baltimore Construction Cost Index for calendar years 2009 and 2010, the existing rates were increased by a rate of 8.89 percent. The rates were adjusted to the nearest 5 cents for rates calculated per square foot of gross floor area (GFA) or adjusted to the nearest dollar for rates calculated per dwelling unit. Table 1 provides the new rates for the Development Impact Tax for Transportation Improvements, while Table 2 provides the new rates for the Development Impact Tax for Public School Improvements.
TABLE 1
Transportation Impact Taxes
New Rates for the Period
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