UPDATE: Berliner Suggests Recordation Tax to Be Used to Pay for Bonds for School Construction (VIDEO)

The recordation tax could be used as a source of funding to pay for bonds that would in turn pay for projects to ease school overcrowding, Council President Roger Berliner said Monday.

By putting $30 million a year for bonds, it would increase the amount of money the county has for school projects by $150 million over five years, Berliner said.

“In my judgment getting a jumpstart on renovations, on additional capacity and on making our schools safer is among the highest priorities,” Berliner said at his weekly meeting with reporters.

During last year’s budget cycle, the Montgomery County Council approved an increase in the recordation tax — a levy collected whenever real estate changes hands.

Berliner said the county expects $55 million to $70 million to come from the tax. He is proposing only using $30 million for the bonds, as a hedge against a recession, he said.

Berliner said Montgomery County Public Schools Superintendent Jack Smith, school board President Michael Durso and Councilmember Craig Rice, who chairs the council’s Education Committee, support the concept, Berliner said.

Update: Here’s the letter Berliner sent to colleagues proposing the idea:

Also, he describes his plan in this video:

Douglas Tallman

About Douglas Tallman

Reporter with 35 years experience throughout Maryland. Reach me at dtallman@mymcmedia.org or via Twitter at @MCM-Doug

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