‘Larger storm’ coming to Greater Baltimore as value of city office towers tank

The plunging value of downtown Baltimore’s office market is a crisis that could spread throughout Maryland and impact suburban tax revenue in the coming years, the head of the Maryland Department of Assessments and Taxation says. Michael L. Higgs, director of SDAT, says he has warned city and state leaders for a year of the mounting pressure on property owners and stakeholders in Maryland’s commercial real estate market.