City of Baltimore - File #: 23-0414

• File #: 23-0414
• Version: 0
• Name: Property Tax Credit Reform - Work Group
• Type: Mayor and City Council Res.
• Status: In Committee
• File created: 8/21/2023
• In control: Finance and Performance Committee
• Title: Property Tax Credit Reform - Work Group For the purpose of forming an inter-departmental work group, including broad representation from stakeholders outside Baltimore City government, to study and make recommendations for reforms to the City’s property tax credit system.
• Sponsors: John T. Bullock, President Nicholas J. Mosby, Odette Ramos, Phylicia Porter, Zeke Cohen, James Torrence, Mark Conway, Sharon Green Middleton, Robert Stokes, Sr., Eric T. Costello, Kristerfer Burnett
• Indexes: Property Tax Credit, Reform

Date	Ver.	Action By	Action	Result
9/21/2023	0	Finance and Performance Committee
9/18/2023	0	Finance and Performance Committee	Scheduled for a Public Hearing
8/24/2023	0	Baltimore City Council	Refer to Baltimore Development Corporation
8/24/2023	0	Baltimore City Council	Refer to Dept. of Planning
8/24/2023	0	Baltimore City Council	Refer to Office of Civil Rights and Wage Enforcement
8/24/2023	0	Baltimore City Council	Refer to Baltimore City Administrator
8/24/2023	0	Baltimore City Council	Refer to Dept. of Finance
8/24/2023	0	Baltimore City Council	Refer to City Solicitor
8/21/2023	0	Baltimore City Council	Assigned
8/21/2023	0	Baltimore City Council	Introduced

Explanation: Capitals indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.

* Warning: This is an unofficial, introductory copy of the bill.
The official copy considered by the City Council is the first reader copy.
Introductory*

City of Baltimore
Council Bill

Introduced by: Councilmembers Bullock


A Resolution Entitled

A Resolution of the Mayor and City Council concerning
title
Property Tax Credit Reform - Work Group
For the purpose of forming an inter-departmental work group, including broad representation from stakeholders outside Baltimore City government, to study and make recommendations for reforms to the City’s property tax credit system.
body
Recitals

Baltimore City currently offers a myriad of property tax credits to encourage real estate development of all kinds within the City’s geographic boundaries. Over time, it is unclear that the available property tax credits are the most efficient way to use City resources to encourage equitable, quality development. The Department of Finance, Bureau of the Budget and Management Research (“BBMR”) conducted its own study of the City’s tax credits which it published in August 2022. BBMR found that from Fiscal Year 2010 to Fiscal Year 2021, the cost of the City’s development tax credit programs grew rapidly from $13.6 million to $62.6 million. On a percentage basis, the tax credits grew from only 1.7% of gross property tax revenue to 6.8%. The key driver was the growing cost of the Brownfield, High Performance, and Enterprise Zone Tax Credits. That report concluded that even modest reforms to the City’s tax credits would yield savings for ...