Montgomery County commissioners recently proposed a $568 million budget for 2024 that includes a property tax increase. The draft budget calls for an increase in the real estate tax to 4.788 mills from the current 4.627 mills, which will raise taxes for the average home in the county by about $94 per year. The proposed tax increase would generate about $33.3 million more in real estate tax revenue. The budget also proposes the use of $2 million of the county’s existing fund balance for new debt service expenses. The budget proposal is available on the county website. The commissioners will hold two public hearings on the 2024 Proposed Budget and Capital Improvement Plan on Thursday, Nov. 30, at 10:30 a.m. and at 6 p.m. Public comments will be accepted by mail, email or at the meetings listed above. The commissioners will consider the budget for adoption at their regularly scheduled board meeting on Thursday, Dec. 14.
Source: Main Line Media News; 11/16/2023