Open Thread: Proposed Property Tax Cut Goes To City Council

A proposed decrease in the city’s property tax is scheduled to be submitted to the city council on Monday.

The proposed tax cut is part of Mayor Stephanie Rawlings-Blake’s suggested budget for the coming fiscal year, and in keeping with a campaign pledge to reduce property taxes to $2.068 per $100 of assessed value by 2020.

The mayor’s proposed budget calls for dropping the property tax rate from $2.268 to $2.248 per $100 of assessed value in the coming fiscal year. The property tax would still be the highest in the state, and twice that of neighboring Baltimore County, which has a property tax rate of $1.1 per $100 of assessed value. 

The revenue lost from property tax cuts will be made up through budget cuts and slots revenue.  

What do you think about the proposal to reduce Baltimore property taxes? Share your thoughts in the comments.