Silver Spring is an unincorporated community and census-designated place (CDP) located inside the Capital Beltway in Montgomery County, Maryland, United States.
It had a population of 76,716 according to 2013 estimates by the United States Census Bureau, making it the fourth most populous place in Maryland, after Baltimore, Columbia, and Germantown.
Silver Spring consists of the following neighborhoods: Downtown Silver Spring, East Silver Spring, Woodside, Woodside Park, North Hills Sligo Park, Long Branch, Montgomery Knolls, Franklin Knolls, Indian Spring Terrace, Indian Spring Village, Clifton Park Village, New Hampshire Estates, and Oakview.
The urbanized, oldest, and southernmost part of Silver Spring is a major business hub that lies at the north apex of Washington, D.C. As of 2004, the Central Business District (CBD) held 7,254,729 square feet (673,986 m2) of office space, 5216 dwelling units and 17.6 acres (71,000 m2) of parkland.
The population density of this CBD area of Silver Spring was 15,600 per square mile all within 360 acres (1.5 km2) and approximately 2.5 square miles (6 km2) in the CBD/downtown area. The community has recently undergone a significant renaissance, with the addition of major retail, residential, and office developments. Silver Spring takes its name from a mica-flecked spring discovered there in 1840 by Francis Preston Blair, who subsequently bought much of the surrounding land.
Acorn Park, tucked away in an area of south Silver Spring away from the main downtown area, is believed to be the site of the original spring.
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How did Maryland earn the grade of D+? We examined the state taxes based on how age friendly they are. Maryland has a state sales tax of 6.00%. Of particular interest is that Maryland does not have taxes on social security. There are estate taxes. There are taxes imposed on inheritance. Maryland has an effective property tax rate of 1.10%. Weighing these taxes and other taxes most likely to impact the aging population is how Maryland earned its state tax grade of D+.
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