Basu Predicts Taxes Will Go Up, Local Aid Will Go Down

CAMBRIDGE -- Economist Anirban Basu told members of the Maryland Economic Development Association that he foresees what some Maryland Republicans have been predicting for months.

Taxes will go up next year, he said, and state aid to local governments will go down.

Basu, one of the most widely-quoted economic experts in the state, said in his annual review of economic conditions that “aid to local government will be slashed at every level” and “taxes are going higher,” particularly local property taxes to make up for the loss in state funding.

“State government has got to shrink,” said Basu, whose clients include the Maryland comptroller, state agencies and local governments.

“Local governments are really going to be holding the bills. Property taxes are about to go up.”

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