26-0062R: Informational Hearing – Land Value Tax FOR the purpose of requiring the Department of Housing and Community Development, the Department of Finance, the Mayor’s Office of Small and Minority Business Advocacy and Development, and the Department of Planning, and inviting Live Baltimore, the Baltimore Development Corporation, the Maryland Department of Assessments and Taxation, and other relevant stakeholders to a hearing to evaluate the benefits of implementing a split-rate property tax system in Baltimore City, including its effect on absentee property ownership and speculation, vacant residential and commercial properties, owner-occupant homeowner property taxes, and housing production.

Description

Informational Hearing – Land Value Tax FOR the purpose of requiring the Department of Housing and Community Development, the Department of Finance, the Mayor’s Office of Small and Minority Business Advocacy and Development, and the Department of Planning, and inviting Live Baltimore, the Baltimore Development Corporation, the Maryland Department of Assessments and Taxation, and other relevant stakeholders to a hearing to evaluate the benefits of implementing a split-rate property tax system in Baltimore City, including its effect on absentee property ownership and speculation, vacant residential and commercial properties, owner-occupant homeowner property taxes, and housing production.

Summary

Baltimore City Council Resolution 26-0062R requires an informational hearing on whether to adopt a split-rate property tax system, commonly associated with land value taxation. The proposal would tax land at a higher rate and buildings or other improvements at a lower rate. It directs several city agencies—including Housing and Community Development, Finance, Small and Minority Business Advocacy and Development, and Planning—to participate, while inviting state officials and other stakeholders. The hearing would examine effects on absentee ownership, speculation, vacant properties, homeowner taxes, business investment, and housing construction. The resolution does not change tax law; it seeks information to guide future policy.