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Maryland State Wire

Saturday, November 23, 2024

Maryland's Q4 2023 property tax revenue down 75.5% from previous quarter

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Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Brook E. Lierman, Maryland Comptroller | Comptroller of Maryland

Maryland collected $285 million in property taxes during the fourth quarter of 2023, a 75.5% decrease from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Property tax revenue for the third quarter of 2023 was $1.2 billion.

Overall, Maryland collected $7.7 billion in combined tax revenues in the fourth quarter of 2023, an increase from the $6.5 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.

Q4 2023 Maryland Tax Collections
Type of TaxAmount (millions)
Property Taxes$285
Sales and Gross Receipts Taxes$3,114
Income Taxes$3,854
License Taxes$203
Other Taxes$196
Source: U.S. Census Bureau

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