Baltimore property taxes are still double what they are in surrounding counties, but they’re coming down.
Andrew Kleine, the city’s budget director, presented the preliminary budget for the fiscal year that starts July 1 to the city’s spending board on Wednesday, and it again includes a reduced property tax rate.
The proposed budget drops the property tax rate to $2.13 per $100 of assessed value for owner occupied homes. Last year property taxes were reduced to $2.176 per $100 of assessed value as part of Mayor Stephanie Rawlings-Blake’s plan to reduce property taxes for homeowners by 20 cents in 20 years. The general property tax rate will remain 2.248 per $100 for vacant and rental properties.
But compared to the real property tax rate of $1.10 per $100 of assessed value in Baltimore County, Howard County’s $1.014 per $100 of assessed value and Anne Arundel County’s .95 cents per $100 of assessed value the city has a long way to go to be more competitive.