Montgomery County could face $400 million revenue shortfall

Montgomery County could face a shortfall of as much as $400 million in the next fiscal year as lower income tax returns and a sagging real estate market put county leaders in a budgetary bind.

As a result, Montgomery’s top elected official wants all county government departments to shave 2 percent off their operating budget this year in anticipation of what is projected to be the largest-ever budget gap for the county in the fiscal year that begins in July.