For any real chance for Baltimore to bounce back economically, you need to cut its high property taxes. Reihan Salam argues the case, drawing on work by Stephen Walters (Loyola Maryland) and others. As a percentage of value Baltimore’s property taxes are not as extraordinarily high as Detroit’s, but in both cities the tax has contributed to severe problems of property abandonment.
From a Facebook discussion, Bruce Godfrey:
One other effect of Baltimore city’s high property taxes is the disproportionate concentration of nonprofit organizations in the city. These nonprofits are exempt not only from income taxes on their operations, but every asset they own is exempt from the state real estate and personal property taxes, which are more than twice those of the county surrounding it.
More: Lengthy new piece on Baltimore abandonments by Washington Post reporter Terrence McCoy never mentions property taxes. So they must not be a problem!