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Montgomery County committee backs widening homeowners tax-credit eligibility and links caps to inflation
Summary
The Government Operations and Fiscal Policy Committee voted 3-0 to forward Bill 3-25, which would expand eligibility for the county supplement to the state Homeowners Tax Credit (HOTC), raising income and net-worth limits, increasing the assessed-value cap, and indexing dollar thresholds to inflation.
The Government Operations and Fiscal Policy Committee voted 3-0 to recommend that the full Montgomery County Council consider Bill 3-25, a proposal to expand the county supplement to the state Homeowners Tax Credit (HOTC).
The bill would raise the combined household income eligibility from $60,000 to $75,000 and the net-worth limit from $200,000 to $250,000, increase the assessed-value ceiling that can qualify for the supplement from $300,000 to $375,000, and modify the credit's progressive scale. It also links the dollar thresholds in the county supplement to inflation going forward.
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