[Baltimore Sun] Baltimore City Council introduces bill to triple and quadruple property tax rate on vacant homes
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Baltimore City hopes to raise property tax rates on owners of vacant homes.
A bill introduced to the City Council on Monday night would triple the property tax rate the first full tax year a property is classified as a vacant structure. The property tax rate would increase the original rate by four times any year after the property is still vacant.
“We’re here to present legislation that will no longer put vacants and the speculators that hold those properties on the same playing field as middle-class homeowners throughout our city. They will be taxed at a higher rate,” Council President Nick Mosby said.
The bill was sponsored unanimously. According to the bill, the first eligible tax year would be July 1, 2026, to June 30, 2027, and the policy could expire in 2029.
The city has around 13,000 vacant homes, and Maryland Gov. Wes Moore set a goal last week of transitioning at least 5,000 vacant properties into homeownership or other positive outcomes during the next five years. Sunday at Macedonia Baptist Church in the Upton neighborhood, state housing Secretary Jacob Day pledged $1 billion over the next 15 years to the effort. Mayor Brandon Scott has said the 15-year effort will take $3 billion.
A bill to establish a tax increment financing district with around 8,000 city properties is in the City Council’s committee of the whole. The TIF structure would allow the city to borrow millions of dollars to help fund the acquisition, remediation and sale of vacant properties. The debt would be paid off with new tax revenue expected to be generated by the improved properties.
“This will make sure that we are adding more properties that will be eligible for [foreclosure] and eventually be able to be redeveloped. It is really a huge deal and such an exciting time for Baltimore,” Councilwoman Odette Ramos said.
Have a news tip? Contact Dillon Mullan at dmullan@baltsun.com, 302-842-3818 or @DillonMullan on X.
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