Montgomery measure aims to battle foreclosure rates

Real estate lobbyists say they still aren’t satisfied with changes to a proposed Montgomery County measure aimed at battling skyrocketing foreclosure rates that would require home sellers to disclose to potential buyers what they would pay in property taxes.

Council Member Phil Andrews proposed legislation in September to mandate that property tax estimates for the new owner be included on any written or electronic promotional material advertising the home. According to Andrews, property taxes often jump after a home is sold because the sellers have been benefiting from state property tax caps that prohibit more than a 10 percent increase per year unless a home changes ownership.