State Senate adds end date for Amazon incentives

The Maryland Senate passed a package of tax credits and exemptions Friday night that are part of the package Gov. Larry Hogan has pitched to woo Amazon to build its second headquarters in Montgomery County. The governor has valued the package at about $3 billion, while nonpartisan legislative analysts have estimated the tax package’s value at $5.6 billion.

State Sen. Jim Rosapepe (D-Prince George’s and Anne Arundel counties) added an amendment that was accepted by lawmakers that would terminate the incentives after Jan. 1, 2022, if Amazon chose not to locate in Montgomery County. The Seattle-based tech company is choosing between the county and 19 other locations for its massive project. The language of the bill would have enabled any Fortune 100 company that plans to bring more than 40,000 workers and pay most of them at least $60,000 to qualify for the tax breaks. However, the change ensures the legislation only impacts Amazon should it choose to locate in Montgomery County.

The House of Delegates is considering a companion bill. The legislation would provide Amazon with an income tax credit based on the jobs it creates, a tax credit against state and local property taxes, and a sales and use tax exemption on certain purchases. Amazon plans to bring about 50,000 jobs to whichever location it chooses.

 

Potomac, Chevy Chase and two Bethesda ZIP codes make list of highest-earners in the U.S.

Six ZIP codes in Montgomery County, including four in the Bethesda area, were included in a new list  of the 100 highest-earning places in the U.S. produced by the real estate website PropertyShark.

Here’s where the ZIP codes in the county ranked on the list based on their median household income:

20816 – Bethesda – No. 36 at $210,167

20854 – Potomac – No. 41 at $207,287

20868 – Spencerville – No. 59 at $204,007

20817 – Bethesda – No. 67 at $199,925

20815 – Chevy Chase – No. 69 at $199,516

The website used American Community Survey data to rank the ZIP codes. None of the Montgomery County ZIP codes made a similar list produced by the website ranking the highest median home sale prices in the country. Areas in and surrounding New York City and San Francisco dominated the top of both lists.

 

Bethesda Realtor named to ‘30 under 30’ list

Daniel Schuler, a Realtor for Bethesda-based The Estridge Group of Long & Foster Real Estate, was named a finalist on the National Association of Realtors’ “30 Under 30” list. The 29-year-old Silver Spring resident, who grew up in Kensington, was the only person from Maryland named to the list of top Realtors under the age of 30. In 2017, he orchestrated $15.7 million in sales with 28 transactions, according to The Estridge Group.

He told the Realtors’ association that he specializes in getting homes ready to list to maximize their sales prices. He started at The Estridge Group after an informational meeting with owner Melinda Estridge, who he knew through an acquaintance.

“We’re proud of Daniel and appreciative of how hard he works for his clients,” Larry ‘Boomer’ Foster, president of Long & Foster, said in a statement. “It’s rewarding for all of us at Long & Foster to see one of our own recognized not only for his accomplishments, but also for what he represents to the future of the industry.”

Image: Daniel Schuler via The Estridge Group