Participant Guide: Property Value


The Envision Participant Guide provides an in-depth exploration of the opportunities and challenges which may shape the future of Prince George’s County.

In today’s excerpt, we take a look at Property Value:

Blessed and burdened by lower property values

Lower property values in the county contribute to its affordability, however, lower property values hamper the ability to raise revenue for government services. The value of property on which the local government raises taxes increased between the years 2002 and 2006 by 45 percent. This increased its ability to raise revenue for services and other needs. However, the value of taxable property in Montgomery County in 2006 was more than double what it was in Prince George’s. This signifies lower land values in Prince

George’s and means that Montgomery County can raise more money than Prince George’s County, even with a lower property tax rate. Furthermore, because commercial development has lagged behind residential development in our county, homeowners share a much higher tax burden here than do residents in other Washington metropolitan area counties.

For much more background on our county, please download and review the Envision Participant Guide (note: This is a large 2MB PDF file), and look for many more Participant Guide excerpts here at the Envision blog.



Be the first to comment!
0 votes Vota!!

Leave a comment


You may be interested in the following related articles as well...