Pictured: Members of Baltimore mayor's task force on property tax relief (from left) state Sen. Verna L. Jones, Greater Baltimore Board of Realtors Vice President Joseph T. Landers III and city Comptroller Joan M. Pratt. (Sun photo by Jed Kirschbaum / January 3, 2008)Baltimore has the highest property tax rate in the state of Maryland. In a time where many middle-class folks are feeling financial pressures due to mortgages with higher interest rates, there is a great interest in financial relief through reduced taxes. Today, the Baltimore Sun reports on a proposal that could bring about change.
Mayor Sheila Dixon thinks she may have the solution for beleaguered homeowners: casinos. For the past 10 years, Marylanders have been debating over introducing the casino industry into the state. (Baltimore currently allows slot machines, which is still a source of controversy for some.) Dixon and her supporters argue that casinos tend to bring in great revenue to the city through tourism and many of these tourists tend to be wealthy. According to her calculations, casinos could bring down property tax rates by 17 cents.
Although there is some resistance from other leaders and legislators, a committee in favor of casinos calculates that the city can earn up to $45.9 million, whereas slots bring in only $32.8 million.
No comments:
Post a Comment