$60M Baltimore Budget Overcomes Challenges – City on the Rise!

Baltimore Mayor’s $4B FY25 Budget Plan: A $60M Deficit Battle Through Parking Revenues and Agency Cuts

Revised Baltimore Deficit: $107M to $61.9M – Property Tax Boost and Blueprint Savings

Baltimore Mayor Brandon Scott has unveiled a $4 billion budget plan for fiscal year 2025, which aims to address a $60 million deficit primarily through parking revenues and cuts to vacant positions across city agencies. Despite initial warnings of a $107 million structural deficit, officials have revised the figure down to $61.9 million, citing higher-than-anticipated property tax revenues and lower-than-expected costs for the state-mandated Blueprint for Maryland’s Future. The budget proposal includes no changes to the city’s property tax rate but relies heavily on eliminating vacant positions and shifting funding for police positions to a state revenue source.

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$60M Baltimore Budget Overcomes Challenges – City on the Rise!(PHOTO: Getty Images)

Baltimore’s Budget Boost: $3.2M from Parking Fees Return and $2.6M from Enhanced Enforcement

The budget plan also predicts more money coming in from parking enforcement, expecting $3.2 million from bringing back parking fees and $2.6 million from increasing enforcement in neighborhoods. The collapse of the Francis Scott Key Bridge means cargo ships can’t go to the Port of Baltimore anymore, which could hurt the city’s finances. We don’t know how much it will cost yet, but local leaders are watching closely and think the Federal Emergency Management Agency (FEMA) might help cover the expenses, although FEMA hasn’t agreed to do so yet.

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