More Common Sense from The Examiner
From today’s Baltimore Examiner editorial
Unless the city wants to waste time patching more “loopholes,” it should stop the cycle that got it into this position in the first place. The only way to do that is to cut property taxes in half or more to levels of surrounding counties. As nonprofits have shown, take out the tax issue, and the city is an attractive place to locate. That would drive up demand for property — and prices — and bring more young professionals into the city to work and live, and eventually own homes. That could only benefit the city treasury and city life. It would also decrease demand for state aid. With a looming $1.7 billion “structural” deficit, that would be welcome news for all Maryland taxpayers.
If only the machine politicians that run this city understood the fact that lowering property taxes creates greater tax receipts from the increase in businesses and home owners. Alas that would be like convincing the medieval Church that the sun did not revolve around the earth.