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No increase in Md. property tax rate after vote

Maryland Treasurer Nancy Kopp is one of many government officials who have property on the state's unclaimed property list. (File)

ANNAPOLIS — Maryland residents and businesses won't see an increase in the state property tax in the coming year, even as state officials note that growing payments on bonds could necessitate one in the future. The Board of Public Works voted 2-0 to keep the state tax on real property at 11.2 cents per $100 of assessed value and 28 cents per $100 for property owned by public utilities. Board members Gov. Larry Hogan and Comptroller Peter Franchot were not in attendance; Assistant Comptroller Jerome Kalsmeier and state Treasurer Nancy Kopp cast the two votes. State property taxes are used to pay off state bonds issued for capital projects such as buildings and roads.

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