Declining downtown real estate values put dent in Baltimore’s tax revenues

Baltimore’s financial position has improved somewhat in recent months, a lift that comes even as the city has taken a few major hits from vacancy in its downtown business district. The city has seen its property tax base shrink by $181 million just since July 1, largely a consequence of updated appraisals to major commercial properties that have lost business and tenants since the pandemic, Deputy Finance Director Bob Cenname told the City Council on Thursday.