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Maryland State Wire

Sunday, December 22, 2024

Property tax revenue down 97.5% from previous quarter in Maryland

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Maryland collected $7 million in property taxes during the first quarter, a 97.5% decrease from the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the fourth quarter of 2023 was $285 million.

Overall, Maryland collected $6.9 billion in combined tax revenues in the first quarter, a decrease from the $7.7 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.

Q1 Maryland Tax Collections
Type of TaxAmount (millions)
Property Taxes$7
Sales and Gross Receipts Taxes$2,750
Income Taxes$3,724
License Taxes$259
Other Taxes$142
Source: U.S. Census Bureau

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