Is vacant land in Baltimore City under valued?

The property tax rate in the city of Baltimore is twice what it is in Baltimore County and other surrounding jurisdictions. The amount of tax that a homeowner or a business pays starts with an assessment of a property’s value, and in Baltimore, that assessment is not made by city officials. Maryland is the only state in the country where the assessment process is centralized at the State level. Valuation can jumpstart development, make certain neighborhoods attractive to potential home buyers, and inform decisions about land and infrastructure. A recently formed coalition of community groups called the Fair Assessments Coalition asserts that the state is drastically undervaluing many vacant properties in the city. Today on Midday, an examination of that claim. Bob Yeager, the director of the Maryland Department of Assessments and Taxation, joins the program to talk about how his agency is changing the way assessments are made in the city. Yeager was appointed to the position in July by Gov. Wes Moore. Later Greg Miller, Executive Director of the Center for Land Economics, joins the program.