Thursday, December 21, 2017

MoCo Council candidate calls on Rockville leaders to take emergency action on taxes

Richard Gottfried, a Rockville resident and candidate for Montgomery County Council At-Large (D), is calling on municipal governments like Rockville and Takoma Park to call an emergency meeting in response to the federal tax plan expected to be signed into law by President Trump before Christmas. Gottfried, a CPA, is recommending municipalities in Maryland pass legislation that will allow residents of those jurisdictions to prepay their property taxes. The move would allow residents affected by a new cap on property tax deductions in the federal plan to avoid higher taxes this year.

"By prepaying your city property taxes before December 31, 2017, you would be able to take advantage of your property tax deduction in 2017 before the new federal law takes effect in 2018 and the tax deduction is eliminated for homes valued at over $750,000," Gottfried said Wednesday. "The residents of incorporated cities such as the City of Rockville, Takoma Park and Gaithersburg will lose this city property tax deduction opportunity in 2018, and our current elected officials need to come back from their holiday break to City Hall to pass this most important legislation to benefit the residents that they represent!"


  1. For people who can afford a $750000 home should just shut their mouth and pay their taxes

  2. Yeah, not crying over people who can afford a home that is the better part of a million dollars. They'll be fine.

  3. There is no reason to over react now. What we need to be concerned about is the budget county shortfall

  4. How would it be at the expense of the poor?

  5. "the new federal law takes effect in 2018 and the tax deduction is eliminated for homes valued at over $750,000"

    I don't believe this is correct. As I understand it property owners are able to deduct for interest on the first $750,000, but not beyond that. So if your home is valued at $800,000, your tax deduction isn't "eliminated," it's simply decreased by the amount of interest on that last $50k.