Financial Snapshot Fiscal Year 2026: Budgets, Tax Rates, and Selected Statistics

The Fiscal Year 2026 Budgets, Tax Rates, and Selected Statistics (BTRB) is now available on the MACo website. This annual publication offers an overview of tax structures, tax rates, and revenue trends across Maryland. The BTRB provides information on a a wide range of county revenue sources and budget data. The report is organized into detailed sections, each focusing on a key aspect of fiscal operations - from current tax rates and revenues to multi-year…

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Cecil Completes Successful Bond Sale, Affirms Strong Credit Ratings

Cecil County issued $49.6 million in Public Improvement Bonds to advance projects in the County’s adopted Capital Improvement Plan. The funding supports emergency services, law enforcement, Cecil College, public schools, libraries, significant public works, and roadway improvements. In addition, Moody’s reaffirmed its Aa1 rating and Standard & Poor’s affirmed its AA+ rating, both with stable outlooks. The ratings agencies pointed to healthy reserves, strong liquidity, conservative budgeting, and long-term financial planning. They also noted the…

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Conduit Street Podcast: Professor Todd Eberly on “Interesting Times” in MD Politics

As Maryland heads into a challenging budget year and an election cycle legislative session, Professor Todd Eberly of St. Mary’s College of Maryland joins the Conduit Street Podcast to unpack the forces shaping the state’s political and economic landscape.   Tune in to the Conduit Street Podcast weekly, wherever you get your podcasts! Subscribe to the Conduit Street Blog and stay in the know!  

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Carroll Earns Top-Notch Credit Ratings, Completes Successful Bond Sale

Carroll County held all three AAA credit ratings again this week and completed its latest bond sale at favorable terms, keeping borrowing costs down as the County moves forward with major capital projects. Fitch Ratings, S&P Global Ratings, and Moody’s each reaffirmed their highest ratings for the County, placing Carroll among a small group of jurisdictions nationwide that maintain top marks across all agencies. The County sold $31.5 million in new bonds at an interest…

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Fed Cuts Rates Again as Shutdown Clouds Economic Outlook

The Federal Reserve this week lowered interest rates for the second time this year. Officials moved the benchmark federal funds rate to a range of 3.75% to 4%, aiming to support hiring and steady growth as inflation sits above target and federal data remains limited due to the federal government shutdown. The Fed’s Decision The Federal Open Market Committee reduced rates by a quarter point, continuing its gradual shift toward easier monetary policy. Committee members…

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Charles County Earns Fitch’s Top AAA Rating with Stable Outlook

Fitch Ratings has assigned an "AAA" rating to Charles County’s $69.2 million Consolidated Public Improvement Bonds, Series 2025, and affirmed the County’s Issuer Default Rating (IDR) and outstanding general obligation bonds at the same level. The outlook remains "Stable." The bonds, expected to sell competitively on November 18, will fund a wide range of County projects — from school construction and government facilities to park improvements and water management systems. Fitch’s report highlights Charles County’s…

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Montgomery County Earns Fitch’s Highest Credit Rating

Fitch Ratings has assigned a "AAA" rating to Montgomery County’s $280 million general obligation consolidated public improvement bonds, Series 2025A, and affirmed the County’s Issuer Default Rating (IDR) and outstanding GO bonds at the same level. The outlook remains "Stable." The bonds, scheduled for competitive sale on November 6, will refinance bond anticipation notes that funded earlier capital projects and directly finance additional County infrastructure investments. The rating underscores Fitch’s confidence in Montgomery County’s long-term…

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MDTA Hosts Industry Forum on $177M Bay Bridge Protection Project

The Maryland Transportation Authority (MDTA) hosted an industry forum for the Bay Bridge Protection Project. During the forum, MDTA representatives provided an overview of the anticipated Design-Build process and engaged with potential heavy marine contractors, consultants, and subcontractors. The forum also informed industry stakeholders about the upcoming Request for Proposals, which is anticipated to be released in Winter 2025.  From the news release: “The MDTA remains serious about safety and is committed to infrastructure improvements…

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Read more about the article Fitch: Prolonged Federal Shutdown Could Pressure Public Finance Credits
Source: Maryland Department of Labor
Fitch: Prolonged Federal Shutdown Could Pressure Public Finance Credits

Fitch Ratings cautions that while governments can manage a short shutdown, a lengthier disruption could ripple through housing, healthcare, higher education, transportation, local revenues, and economic growth — with potential negative credit consequences. Fitch Ratings released a new analysis this week, warning that a prolonged shutdown could erode public finance credit strength, straining budgets and weakening the long-term fiscal outlook for governments and nonprofits most reliant on federal support. A protracted shutdown could even trigger…

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Conduit Street Podcast: Revenues, Roads, and Rising Risks

This week on the Conduit Street Podcast, Kevin Kinnally and Michael Sanderson unpack Maryland’s fiscal outlook.   Tune in to the Conduit Street Podcast weekly, wherever you get your podcasts! Subscribe to the Conduit Street Blog and stay in the know!

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