John Matthews
WMAL.com
ROCKVILLE — (WMAL) People who have lived for decades in Montgomery County could soon be getting a new tax break.
The credit would be equal to 20 percent off the cost of the homeowner’s property taxes.
County Council President Nancy Floreen, who will introduce the bill Tuesday, says it’s a nod to longtime residents.
“[The bill] would create a new property tax credit for our residents who are at least 65 years old. The caveat is that they would have had to have lived in the same dwelling for at least 40 years,” says Floreen.
The home would also have to have a maximum assessed value of a half million dollars or less.
Retired military members 65 and over would also be eligible for the credit, if the bill is approved.
Floreen concedes that the credit would not be helpful for too many residents.
“I don’t think it’s a huge number, but for those folks who’ve been committed to Montgomery County, we’d like to find a way to support their efforts to remain here.”
Copyright 2016 by WMAL.com. All Rights Reserved. (PHOTO: Montgomery County Government )
