Annapolis, MD (May 28, 2021) - County Executive Steuart Pittman issued the following statement regarding Governor’s veto of the HB 933:
“I was disappointed to learn that Governor Hogan has vetoed the bill that would have allowed Anne Arundel County to create a funding mechanism used by other jurisdictions to support affordable housing initiatives.
The bill allows our county council to implement separate rates for the existing real estate transfer tax, depending on the value of the property. Currently all real estate transfers are taxed at the same rate.
The authorization specifically allowed our county to charge a higher rate on properties sold for over $1 million if, and only if, the funds would be dedicated to an affordable housing trust fund. Opposition to the bill came from Governor Hogan’s peers in the real estate industry, particularly the companies that do not participate in affordable housing ventures.
We look forward to a veto override when the General Assembly convenes next year.”