Montgomery County OLO report compares tax burdens of six local jurisdictions

For Immediate Release: Tuesday, June 21, 2016

Montgomery Council releases Office of Legislative Oversight report reviewing

tax burdens in local jurisdictions

Report compares Montgomery with Prince George’s, Howard,

Frederick, Fairfax and the District of Columbia

 

ROCKVILLE, MD, June 21, 2016—The Montgomery County Council today received a report from the Office of Legislative Oversight (OLO) entitled Individual and Business Tax Burdens in Local Jurisdictions. The report analyzes the tax burden for individuals and businesses in Montgomery County compared to five other local jurisdictions: Prince George’s, Howard and Frederick counties in Maryland, Fairfax County in Virginia and the District of Columbia.

 

The tax burden data in the OLO report comes from two reports conducted for the District of Columbia government. Some highlights of the OLO report include:

• Among the local jurisdictions examined in the report, Montgomery County ranked third in projected Fiscal Year 2016 total revenue at $5.1 billion, following the District ($14.0 billion) and Fairfax County ($7.5 billion).
• Among families in the six jurisdictions at five annual income levels ranging from $25,000 to $150,000, Montgomery County ranked third in annual tax burden at all income levels except for $50,000. At the $50,000 level, the tax burden in Montgomery County is lower than all but one of the jurisdictions examined.
• A September 2013 report created for the D.C. Tax Revision Commission found that in many scenarios, taxes are lower for businesses located in Montgomery County, compared to Prince George’s County, Fairfax County and the District of Columbia.

The Council is scheduled to receive a briefing on the report on Tuesday, July 12, in the Third Floor Hearing Room of the Council Office Building at 100 Maryland Ave. in Rockville. The meeting will be televised live by County Cable Montgomery (CCM—Cable Channel 6 on Comcast and RCN, Channel 30 on Verizon). The broadcast also will be streamed through the County web site at: www.montgomerycountymd.gov/council/ondemand/index.html .

 

The OLO report can be found at: http://www.montgomerycountymd.gov/OLO/Reports/CurrentOLOReports.html.

 

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Release ID: 16-198
Media Contact: Neil Greenberger 240-777-7939, Delphine Harriston 240-777-7931