Maryland property owners will not see an increase in the state share of the property tax rate next year, when the rate will hold steady at the same level it’s been since 2007.
The three-member Board of Public Works voted unanimously, and without debate, Wednesday to approve a recommendation to hold taxes on commercial and residential properties at 11.2 cents per $100 in assessed value. The property tax rate on utilities will remain at 28 cents per $100 of assessed value.
Taxpayers are still likely to see their tax bills go up, however, even as the tax rate remains flat. That’s because all 23 counties and Baltimore City reported increased assessments for seven consecutive years.
Still, Gov. Wes Moore (D), who chairs the board, lauded his administration’s efforts Wednesday to hold the line on property taxes for the third straight year.
“I want to highlight that, because when I first introduced this administration’s budget proposal back in January, we made one thing very, very clear … the state of Maryland will not balance this budget on the backs of the working and middle class,” Moore said.
Click here to read the rest of the article written by Bryan Sears over at Maryland Matters
