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Residential Taxes and Economic Development

Twenty years ago, residential taxes contributed 50% towards the annual city budget. In 2023, that % escalated to over 80%. This rise is out of control and unsustainable, and a 4 cent or 11% raise is currently being proposed by the mayor and city council.

If commercial properties are going to continue to get rezoned to residential uses, then more attention needs to focused on replacing the overall commercial/mixed use tax base through economic diversifactioj of revenue streams. The promotion of mixed-use developments that combine residential, commercial, entertainment and hospitality uses which can attract investment and provide additional higher paying job opportunities through increased union labor force., and push the needle back on the commercial tax base. The West Side development, Robinson Terminal, and the future Potomac Yard developments are just a few examples of where mixed-use developments can help ease this residential tax pattern.

Tax season

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