MVF Board approves 2026 budget, sets assessment rates and service fees

At its Oct. 23 meeting, the Montgomery Village Foundation (MVF) Board of Directors approved the 2026 Operating Budget, which proposed a $0.55 increase in the MVF assessment (previously estimated at $0.77) and a $1.15 increase in the Designated User (DU) assessment (previously estimated at $1.25). The 2026 rates were set at $22.42 per unit per month for the MVF assessment and $46.92 per unit per month for the DU assessment. For units at the Village Center that pay a service fee, rates were set at $23 per unit per month for condominiums and $69 per unit per month for townhouses.

After review of actual year-to-date financials through September and with careful consideration of risks for the remainder of the year, Executive Vice President Mike Conroy and Chief Financial Officer Daniel Salazar believe 2025 will end favorably and the MVF Fund and DU Fund will end the year ahead of the budget using about $100,000 of the $273,411 budgeted Undesignated Reserves (MVF: $273,411 and DU: $0.

Salazar noted that since publishing the proposed budget, staff have not made any material changes to Revenues or Expenses. One resident comment questioned the proposed 3.5% salary increase for full-time staff. After Board input, the 3.5% increase is retained; however, 0.5% of the increase will be funded from the Undesignated Reserves, a total of $17,768 ($15,135 MVF; $2,633 DU).

Assessment rate notices will be mailed in November, and coupon books will be mailed to residents in December. Property owners who do not receive coupon books by Wednesday, Dec. 31 should call 301-948-0110 for replacement coupons.