WATCH WJZ @ NOON ON SATURDAY | The Army-Navy rivalry comes to Baltimore. WJZ has live pre-game ceremonies and the game.

Baltimore Council Approves Property Tax Cut Plan

BALTIMORE (AP) — The Baltimore City Council has approved Mayor Stephanie Rawlings-Blake’s proposed property tax cut legislation.

The plan approved on Monday calls for a newly created homeowners tax credit program that the mayor’s office says would be paid for with money generated by slots and by reducing spending over the next several years.

Under the plan, the owner of a home valued at $200,000 would see an annual tax reduction of $40 in 2013, growing to $400 in 2020.

Rawlings-Blake has said the gradual tax reduction would prevent large cuts to city services and public school funding.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Baltimore

Track Weather On The Go With Our App!
Your Podcast Network Play.it

Listen Live