ANNAPOLIS — County officials warned they would raise local property taxes and other fees if Maryland lawmakers vote to shift some teacher pension costs onto their budgets. A proposal to shift 50 percent of teacher pension costs onto counties “would be equivalent to a five-cent increase in the typical county’s property tax rate,” according to a Tuesday report by the Maryland Association of Counties.
That equals roughly $250 more annually in local property taxes for Montgomery and Prince George’s counties’ residents with assessments worth $500,000 — according to the report, which assumes Montgomery would raise its 69-cent property tax rate per $100 of assessed value by 4 cents and Prince George’s would raise its 96-cent rate by 5 cents.
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