The Maryland Public Policy Institute today criticized the Baltimore City Council’s unanimous decision to raise city real estate taxes by $20 million annually, despite the fact that Baltimore already ranks as the 4th highest-taxed city in America.
“Baltimore’s elected leaders have taken one of the worst tax climates in America and made it worse,” said Christopher B. Summers, president and chief executive officer of the Institute. “Raising taxes in an overtaxed city will drive housing costs higher - not lower as local politicians claim. We urge Mayor Pugh to listen to the warnings from the city’s own budget director – who testified these taxes will stifle economic investment – and not add taxes that punish job creators and economic activity. This will make it harder to deliver the citizens of Baltimore the economic turnaround they have long deserved.”
In August, Maryland Public Policy Institute fellow Marta Mossburg detailed how the city’s tax hike plan will make housing unaffordable for many residents and discourage would-be residents from moving to the city. Read her commentary: “Baltimore City Council guarantees unaffordable housing for vast majority”
Summers detailed in The Baltimore Sun in December how lowering the cost of living in Baltimore is the right way to attract new residents and investment in the city. Here’s his commentary: “Lower Baltimore’s cost of living to make housing more affordable”
Lastly, the Institute’s report “How to make Baltimore a Superstar City” sheds light on how a bold reduction in the city property tax rates will unleash investment, job growth and a population renaissance. Read it here: “How to make Baltimore a Superstar City”
All of the Institute’s analysis of Baltimore City policies can be found atmdpolicy.org.
About the Maryland Public Policy Institute: Founded in 2001, theMaryland Public Policy Institute is a nonpartisan public policy research and education organization that focuses on state policy issues. The Institute’s mission is to formulate and promote public policies at all levels of government based on principles of free enterprise, limited government, and civil society. Learn more at mdpolicy.org.
