Baltimore City Council

Baltimore City Council considers tax hikes to pay for affordable housing

Baltimore City Council considers tax hikes to pay for affordable housing

In a city where many struggle to make monthly rent payments, the Baltimore City Council is considering raising taxes on property sales and transfers to provide $10 million annually for affordable housing.

City Councilman Bill Henry submitted legislation Thursday to raise the recording fee by 20 percent and transfer taxes by 17 percent, respectively, to provide a “sustainable revenue source” for the Affordable Housing Trust Fund — a new fund created by the voters that currently has no money in it.

Henry said the tax increase would result in about $10 million more each year.

If passed, the bill would raise the recording fee charged on every $500 worth of property sold from...

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