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Baltimore finance officials outline FY27 revenue forecast, warn of ‘HUR’ cliff
Summary
Finance officials told the Budget & Appropriations Committee that property taxes remain the largest revenue source and that reassessments will drive an estimated $73.9 million increase for FY27; they warned a potential $80 million drop in HUR funding in FY28 if state actions are not taken.
The Baltimore City Budget & Appropriations Committee heard preliminary FY27 revenue estimates on April 14 as officials described steady residential assessment growth and persistent commercial weakness.
Pedro Ponti, assistant board director in the Department of Finance, said reassessments will produce roughly $73.9 million in additional property-tax revenue compared with FY26 and that property tax remains the single largest component of the general fund (about 46.1 percent). "We are not changing the real property tax rate," Ponti said, noting the overall rate remains 2.248 and the owner-occupied rate remains 2.048.
Ponti said the city’s overall assessment growth for the triennial cycle is about 10.5 percent, driven by strong residential gains (he cited Canton and other neighborhoods) while commercial…
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