Association rep warns removing PTR will change taxpayer bills and distributional outcomes
The presenter said removing the property tax replacement (PTR) affects the amount available to buy down circuit-breaker losses and will reduce the implicit property-tax credit taxpayers currently receive, altering municipal funding and taxpayer bills.
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Jamie said Howard County is a PTR county and that PTR revenue currently reduces property tax bills and offsets circuit-breaker losses. "That revenue... buys down circuit breaker loss because of where it is credited on the order of operations for property taxes," Jamie said, adding the General Assembly's pending changes to PTR will materially affect net taxpayer liability and municipal revenues.
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