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Maryland State Wire

Friday, November 15, 2024

Maryland sees more property tax revenue in Q3 2022

Maryland collected $516 million in property taxes during the third quarter of 2022, a 61.8% increase over the second quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the second quarter of 2022 was $319 million.

Overall, Maryland collected $5.6 billion in combined tax revenues in the the third quarter of 2022, a decrease from the $13 billion collected in the previous quarter.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2022 Maryland Tax Collections
Type of TaxAmount (millions)
Property Taxes$516
Sales and Gross Receipts Taxes$2,329
Income Taxes$2,422
License Taxes$209
Other Taxes$161
Source: U.S. Census Bureau

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