Monday, April 22, 2024 | Baltimore, MD

Vacant properties cost Baltimore at least $200 million a year, report estimates

September 2, 2022

Baltimore loses $100 million in tax revenue from vacant properties every year and spends another $100 million annually maintaining them, according to a report published Thursday by Johns Hopkins researchers. The economic and social costs “far exceed the investment needed to bring them back to productive use,” the report argues. In an interview, study authors Mac McComas and Mary Miller, both of Hopkins’ 21st Century Cities Initiative, said that while $200 million may be a conservative estimate, it is the most accurate and holistic assessment of the crisis produced in several years.

Article Source: The Baltimore Banner

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.