A City Council committee on Wednesday approved Mayor Stephanie Rawlings-Blake's property tax reduction plan, which relies on projected revenue from gambling.
Banking on income from a future slots location, the plan would reduce Baltimore's property tax rate by 20 cents by 2020 for Baltimore homeowners. According to the mayor's office, the plan would give an owner-occupied home, valued at $200,000, an annual tax reduction of $40 next year. That reduction would grow to $400 by 2020.
Caesars Entertainment, the leading bidder for a slots parlor in Baltimore, earlier this month gave lawmakers explicit assurances that their company will not abandon the city for Prince George's County if the General Assembly approves a casino there. While Caesars has not yet been awarded the license for the downtown Baltimore location, it is the only viable applicant now in the running.