Montgomery County Council meets to consider tax credit package addressing affordability crisis

ROCKVILLE, Md. - Acknowledging that almost everything is more expensive these days, the Montgomery County Council is meeting on Tuesday afternoon to talk about financial relief for certain residents. 

FOX 5’s Melanie Alnwick says the county is trying to address an affordability crisis, targeting these tax credits to residents who need it most. County documents say households of four, earning less than $106,800, qualify as "low income" in our area, where buying a home presents significant financial challenges. 

The current median sales price of a condo is $280,000, a townhome is $431,000, and a single-family home is $808,000.

The proposed tax credit, adjusted for income and property cost, will now be extended to households earning up to $106,800. Another property tax credit is proposed for Montgomery County Public School employees. This one is $2,500 for MCPS employees who own property in the county and live there at least nine months out of the year, though supervisors, directors, and high-level administrators would be ineligible.

The council is also proposing a child tax credit of $500 per child up to age six for families earning less than $15,000. The county says the money will help the neediest families pay for essentials, such as food and shelter, and will be spent at local businesses.

The county has not yet said how much these tax credits would cost. There is a public hearing at 1:30 p.m. on Tuesday afternoon.