‘People are going to lose their property’: This Montgomery County woman’s property tax is poised to pop from $756 to over $10,000. – Moneywise

According to Montgomery County Assessor Kendra Niehaus, the spike in property taxes is due to a 2007 state law that requires woodland tracts to be taxed like homes. Up until this year, the law wasn't correctly implemented in Montgomery County, so each tract of woodland must now pay a tax rate of 33.33% of its fair market value.
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
taxpayer
1 year ago

This reform won’t cause anybody to lose their home. In fact it will benefit homeowners since more of the tax is being paid by owners of woodland. While I’m unfamiliar with Montgomery County, I know that in Cook County some “farmland” is taxed at very low rates, discouraging its development for needed homes.

debtsor
1 year ago

I had no idea there was a state law that required woodland tracts to be taxed like homes. That’s completely insane. No wonder my neighbors own wooded land in Wisconsin and Indiana for recreation. That’s completely insane.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE