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Council changes timing for collection of development impact taxes to reduce financing costs for new housing
Summary
The County Council approved Expedited Bill 22‑24 to change when development impact taxes are collected so charges are assessed earlier in the process and are encumbered in financing, a measure sponsors say will lower development costs and support housing production.
The Montgomery County Council voted to approve Expedited Bill 22‑24, which alters the timing of collection for development impact taxes so that those charges are captured earlier in the project timeline and are thus included in financing calculations rather than added later as an interest‑bearing cost.
"If we want to build more housing that is affordable, we need to make it more affordable to build housing, full stop," said Councilmember Glass, the bill's lead, during the district council session. Glass and other supporters said moving…
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