On Thursday night, County Executive Marc Elrich signed a bill raising recordation tax rates.
Elrich signed the bill during an event for the Montgomery County Council of Parent-Teacher Associations (MCCPTA).
The county council voted 7-4 to approve the bill last week. The new rates will go into effect as of Oct. 1. Revenue will help fund school construction projects, as well as county capital projects and rental assistance.
The recordation tax is a one-time cost for those registering the purchase or sale of a property.
