Baltimore City homeowners to see lower property tax rate next year

Baltimore City homeowners to see lower property tax rate next year

Baltimore homeowners will pay one cent less in property taxes next year. The Board of Estimates approved a one-cent property tax rate reduction on Wednesday. That means that in 2027, the tax rate will be $2.03 for every $100 of assessed property value. The rate will decrease by an additional four cents the following year. However, the Homestead Tax Credit cap will increase to 5%. Baltimore Mayor Brandon Scott insists most homeowners in the city …