The following article was submitted by Sixth District Delegate Bob Long about his legislation to deal with high housing costs in Baltimore County.
Maryland citizens are suffering with some of the highest costs of living in America. Prescription, electricity and housing cost are some of the major expenses faced by Marylanders.
Housing costs are especially high and that has made it hard for first-time home buyers, seniors, and everyday residents to afford housing. To keep housing more affordable in Baltimore County, I have proposed House Bills 579, 602, and 603.
House Bill 579 is focused on aiding seniors by proposing partial exemption and credits for homeowners who are 65 years old and older and qualify for the homestead property tax credit. Our seniors on fixed incomes need to be protected to make sure that they can remain in their houses.
Similarly, House Bill 602 gives first-time homebuyers an exemption from the Baltimore County transfer tax on the buyer’s principal residence.
The average age for first-time homebuyers is 40, according to the National Association of Realtors. Our young people need support buying houses so they can build generational wealth.
Finally, House Bill 603 handles the homestead property tax credit percentage. I would like to see property taxes being frozen at their current rate instead of seeing assessments continue to increase.
As essential as these credits and exemptions are, citizens of Baltimore County are being overlooked. These bills were voted unfavorable in the Baltimore County Delegation. The lack of support was cited as being due to the loss of revenue.
On the other hand, the Baltimore County Council unanimously approved a 50-year tax credit at Trade Point Atlantic.
This 50-year tax credit could be worth hundreds of millions of dollars and shows they need to get their priorities in order. Baltimore County residents have to spend within their means. I believe that the County needs to be held accountable for its spending too.
