Baltimore property taxes: Should they be cut in half?
So an economist is suggesting Baltimore cut its property-tax rate in half. And he's suggesting it in an election year.
Naturally, I'm curious what you all think.
Loyola University Maryland's Steve Walters, in a paper with former student Louis Miserendino, recommends officials amend the city charter to ensure that the rate will drop at a specified time -- say, in three or four years -- to give people a reason to buy while prices are still depressed (compared with the suburbs) by the current rate. Set aside any extra tax revenue that comes in and spend it only after the rate is slashed, they say. They're calling it the "cash on delivery" plan.
If it were up to you, what would you do?
Do you think the city could get through this sort of major shift without a big dent to its budget?
Do you have alternative suggestions for city leaders and would-be leaders?