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2w ago

Baltimore Mayor Proposes Property Tax Rate Cut Below $2 by 2028

Mayor Brandon Scott unveils a phased tax reduction plan alongside a $4.6 billion budget to address fiscal challenges without raising other taxes.

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Baltimore Mayor Brandon Scott gives his annual State of the City speech Monday. (Hannah Gaskill/Staff)

Overview

  • Mayor Brandon Scott announced plans to lower Baltimore's residential property tax rate from $2.248 to under $2 per $100 assessed value by 2028, marking the city's first tax relief since 2020.
  • The proposed tax reduction will be gradual and is paired with a $4.6 billion fiscal year 2026 budget aimed at closing an $85 million deficit through fee and fine adjustments.
  • City budget officials project an $8 million deficit for the current fiscal year ending June 30, with potential income tax losses of $3–5 million due to federal workforce cuts.
  • Baltimore's property tax revenues exceeded expectations in fiscal year 2024, generating a $16.3 million surplus, which helped balance that year's budget.
  • The City Council must review and approve the proposed budget and tax plan, which the mayor asserts can be implemented without raising other city taxes.