Details for NOTICE OF VIRTUAL HEARING DEVELOPMENT IMPACT TAX FOR TRANSPORTATION IMPROVEMENTS AND DEVELOPMENT IMPACT TAX FOR PUBLIC SCHOOL IMPROVEMENTS MANDATORY RATE ADJUSTMENT

Updated

Pursuant to Sections 52-49, 52-55, and 52-59 of the Montgomery County Code a virtual public hearing will be held at 1:00 PM on Monday, June 28th at the following numbers and address:

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https://us02web.zoom.us/j/84805788962

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        +1 301 715 8592 US (Washington DC)

        +1 312 626 6799 US (Chicago)

        +1 929 436 2866 US (New York)

        +1 346 248 7799 US (Houston)

        +1 669 900 6833 US (San Jose)

        +1 253 215 8782 US (Tacoma)

Meeting ID: 848 0578 8962

The hearing is concerning the levy and imposition of the Development Impact Tax for Transportation Improvements and the Development Impact Tax for Public School Improvements.

Under Section 52-49 of the Montgomery County Code the Director of Finance must adjust the tax rates for each transportation impact tax district by the annual average increase or decrease in a published construction cost index specified by regulation for the two most recent calendar years. The Director must calculate the adjustment to the nearest multiple of 5 cents for rates per square foot of gross floor area or one dollar for rates per dwelling unit.

Under Section 52-55 of the Montgomery County Code the Director of Finance must adjust the tax rates for each school impact tax district in accordance with the update to the Growth and Infrastructure Policy using the latest student generation rates and school construction cost data. The Director must calculate the adjustment to the nearest multiple of one dollar. Under Section 52-59 of the Montgomery County Code the Director of Finance must adjust the Utilization Premium Payment and also calculate the adjustment to the nearest multiple of one dollar.

Information on the mandatory rate adjustments is available at the following office: Montgomery County Department of Finance on the 15th floor of the Executive Office Building, 101 Monroe Street, Rockville, Maryland.  The phone number is 240-777-8860.

Written statements may be submitted to Dennis Hetman, Fiscal Manager, 101 Monroe Street, 15th Floor, Rockville, Maryland 20850.  Interpreter services are available for deaf and hearing-impaired citizens.  These services can only be guaranteed with five (5) days advance notice. This facility is accessible to the handicapped.  DEPT: Finance-Director’s Office FULL MAIL ADDRESS:  101 Monroe Street, Fifteenth Floor EOB, Rockville, Maryland 20850 PHONE NUMBER:  240-777-8860.

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