The little known secret about Baltimore City finances is that property tax revenue has been and will be exploding in the next few years. Median home sale price in Baltimore shot up by a crazy percentage, and that trend actually started before the pandemic, then accelerated during the pandemic.

Remember that ballot question about cutting the property tax rate? Well, we could really cut the rate by a significant percentage once these new assessments take effect. The reason the rate is so high now is because real estate in Baltimore has traditionally been assessed so low.