BALTIMORE, MD (WBFF) — As Baltimore voters prepare to decide this fall whether to authorize another $280 million in city borrowing, data shows the city already carries one of the heaviest bond debt burdens in Maryland — a level economists warn leaves little room for error amid fiscal uncertainty.
According to Maryland’s 2026 Debt Measures Report, Baltimore City has approximately $4.1 billion in outstanding bond debt, the third-highest total among Maryland jurisdictions. Only Prince George’s County, at $5.8 billion, and Montgomery County, at $8.9 billion, owe more.
But economists say the more troubling figure is not the total debt itself. It’s how much debt Baltimore carries relative to its tax base.
The city’s outstanding debt equals 8.9% of its assessable property tax base — roughly double the statewide average and one of the highest ratios in Maryland.
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