On April 17, 2017, then-current Baltimore Budget Director Andrew Kleine took part in a panel discussion at the Urban Institute in Washington DC titled, "Housing Crisis Effects on City Finances." The panel was aimed at discussing the various ways that the significant drop in housing values affected the budgets of localities. Andrew discussed, among other things, how the state property tax system in Maryland, with its triennial nature and its limits on how much taxes can increase in any given year, actually remained fairly stable through this crisis, how other revenue sources were significantly hurt, and the measures that the City of Baltimore took to mitigate these effects through spending changes. The panel discussion can be viewed in the link below.

https://www.c-span.org/video/?427035-1/forum-focuses-housing-2008-financ...