Office buildings in Baltimore’s central business district remain some one of the highest-taxed properties in the nation, according to a recent analysis.
Commercial Café, a real estate listing site, placed Charm City’s central business district at No. 26 in a ranking of the top 40 such areas in the nation. The rankings are based on average tax per 1,000 square feet.
Baltimore, with an average tax per 1,000 square feet of $2,318.54, is comparable to Tampa, Indianapolis and Columbus, Ohio. The top tax burdens are in New York, Washington and Boston., according to research by Yardi Matrix and PropertyShark.
Baltimore’s high property tax rate, which is roughly double nearby areas, has been held up by some critics as a hurdle to investment in the city. The city tacitly acknowledged the issue by creating a tax credit as incentive to transform outdated office space into apartments.