Banking on future income from slots, Mayor Stephanie Rawlings-Blake plans to formally introduce legislation at Monday's City Council hearing that would reduce Baltimore's property tax rate by 20 cents for homeowners by 2020.
The plan rewards owner-occupied properties through a homeowner's tax credit program funded with projected revenue from future slots machines to be installed in Baltimore.
Under Rawlings-Blake's legislation, an owner-occupied home in Baltimore valued at $200,000 would see a $40 tax cut in 2013 and a $400 reduction in 2020, according to the city.
“Providing property tax relief for city homeowners is an important priority that will help to attract and retain families and get Baltimore growing again,” Rawlings-Blake said in a statement. “During this difficult economic period, it makes sense to target the City’s resources for property tax relief directly to homeowners first to have a bigger impact for families. It also makes sense to be fiscally-responsible and protect funding for core services.”
Rawlings-Blake publicly proposed the plan last year.
Counting on slots revenue, Rawlings-Blake introduces property tax cut legislation
We've upgraded our reader commenting system. Learn more about the new features.
The Baltimore Sun encourages civil dialogue related to our stories; you must register and log-in to our site in order to participate. We reserve the right to remove any user and to delete comments that violate our Terms of Service. By commenting, you agree to these terms. Please flag inappropriate comments.