City Hall Notebook: 2016 Budget Approved
The Baltimore City Council approved Monday Mayor Stephanie Rawlings-Blake's $3.2 billion budget proposal for fiscal 2016.
The take away for the average citizen is that the budget will not cut services or raise taxes. However, because the Horseshoe Casino isn’t bringing in the money expected, there are no tax cuts either.
The effective property tax rate will remain at $2.18 for every $100 of assessed value. The rate is 14 cents lower than four years ago and is still on pace for a 20 cent cut by the year 2020.
The budget also includes an additional $4.2 million for after-school activities for youth.
Overall, the mayor said the budget reflects a recovering economy.
"It continues the city's momentum towards fiscal sustainability," Rawlings-Blake said, "It boosts investment in infrastructure [and] also boosts investment in economic growth."
The $2.5 billion operating budget is three percent higher than the current budget. The capital budget is $672 million.