The issue of personal property taxes is of particular importance to Baltimore City. Until recently, counties were required to set their personal property tax rate at two-and-a-half times the real property rate, and Baltimore City has maintained that ratio. Because the city's real property tax rate is double that of any of its suburban neighbors, its personal property tax rate is, too. The city's current rate of $5.62 per $100 in assessed value is far higher than any other in the state, with second place going to Charles County at $3.0125. Thus, even though Montgomery County has twice as many businesses that would have qualified for relief under Mr. Hogan's bill, the biggest fiscal impact would be in Baltimore City, where it would have saved small businesses $1.3 million a year in taxes.