Wednesday, April 17, 2024 | Baltimore, MD

This tax break costs Baltimore taxpayers millions each year. The city wants to make it bigger.

April 25, 2022

The city of Baltimore wants to renew and expand an expiring tax break for developers and businesses that costs tens of millions of dollars annually. A quarter of Baltimore — about 13,500 acres — is considered within an “enterprise zone,” meaning that developments and businesses in those areas are eligible for certain tax breaks from the city and state. The tax breaks hinge on improvements to the property and hiring benchmarks. Developers and real estate brokers say the program can attract business to Baltimore and generate more tax revenue over the long term.

Article Source: Baltimore Sun

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.