Baltimore's long-term play
My husband and I recently made the leap from being renters to Baltimore City homeowners. This new reality is accompanied by property taxes and mixed emotions. On one hand, I'm excited and optimistic about the future of the city and my future in it. On the other, an anxiety over the long-term investment quietly, but persistently, lingers. Perhaps the line of questioning mentioned above is not so strange after all?
In fact,
This migration pattern contributes to Baltimore City simultaneously having a weekly average wage that is higher than the statewide average and the third-lowest median statewide household income; many of those who work here live and pay their taxes elsewhere. In neighboring Baltimore and Anne Arundel counties, where a significant number of former city residents choose to relocate, the net taxable incomes are $21.4 billion and $15.7 billion respectively, according to 2013 figures. In comparison, the city's net taxable income is just $8.4 billion. While statewide population trends suggest that a massive city exodus
It's not all bad news on the transplant migration front, however. In recent years, Baltimore has gained a reputation as affordable and “cool,” resulting in an influx of the college-educated millennials — a key demographic for the lasting growth of any mid-size city. In fact, those born between 1982 and 2002 represent the
Like other counties in Maryland, primary revenue sources in Baltimore City are composed of state aid, property and income taxes. Thus far, the large slate of mayoral candidates have offered a variety of policy proposals to address the city's problems, including after-school programs, community centers, public health initiatives, police training, better public safety and emergency services, parks, increased public transportation, lowered property taxes, etc. And while the details may differ, all of the proposals are reliant on a revenue stream.
Accordingly, mayoral candidates should be pressed to present new strategies for growing and maintaining the number of new households alongside their plans for improving the overall economic situation of the city. Growing the city by 10,000 families should not be a forgotten aspiration after the current administration departs. We should elect a mayor who can build confidence in the economic viability and livability of the city. A case needs to be made to new residents and commuters that Baltimore City is a great place to live — and the long-term play.