Maryland Fiscal Statistics

StatisNostics/State Financials/Maryland
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20122023
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State Revenue Analysis (Maryland: 2012–2023)

Population: 5,891,819 → 6,165,129 (4.6% change)

Overall Revenue Trends

Total Revenue▲ 70.6%
$34,889,121,000 (2012)→$59,513,749,000 (2023)
Per Capita Revenue▲ 63%
$5,922 (2012)→$9,653 (2023)
Fund Balances▼ 100%
$16,760,384,000 (2012)→$0 (2023)
Revenue Volatility✓ Low
Avg. fluctuation: 6.0%

Major Tax Revenue

Property Tax▲ 41.5%
$755,937,000 (2012)→$1,069,368,000 (2023)
Sales Tax▲ 67.3%
$4,076,578,000 (2012)→$6,821,665,000 (2023)

Utility Revenue

Sewerage Charges▲ 86.6%
$110,520,000 (2012)→$206,229,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Amusement License Tax▲ 24050.0%
$26,000→$6,279,000
Amusement Tax▲ 4325.2%
$27,504,000→$1,217,107,000
Federal Intergovernmental Air Transportation▲ 372.4%
$4,344,000→$20,520,000

Declining/Slowest Growing Sources

Workers Compensation - Interest Earnings▼ 93.7%
$57,878,000→$3,664,000
Local Intergovernmental Public Welfare▼ 81.9%
$25,787,000→$4,667,000
Local Intergovernmental Education▼ 66.3%
$74,920,000→$25,227,000

Revenue Forecast

Projected Revenue (Next Year)▲ 7.7%
Estimated: $64,090,290,824
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Individual Income Tax20.4%
Federal Intergovernmental Public Welfare14.9%
Total General Sales Taxes11.7%
Federal Intergovernmental Education5.3%
Other Selective Sales Taxes3.8%
Higher Education Tuition Charges3.7%
Unemployment - Contribution3.2%
Federal Intergovernmental Health & Hospitals2.7%
Corporation Net Income Tax2.5%
Property Tax2.2%
Motor Fuels Sales Tax2.1%
Net Lottery Revenue2.1%
Federal Intergovernmental Highways1.9%
Higher Education Auxiliary Charges1.7%
Miscellaneous General Revenue Not Elsewhere Classified1.6%
Federal Intergovernmental Other1.6%
Interest Earnings1.5%
Motor Vehicle License1.3%
Insurance Premium Tax1.2%
Toll Highway Charges1.2%
Tobacco Sales Tax1.2%
All Other Not Elsewhere Classified Charges1.0%
Federal Intergovernmental Housing & Community Development0.9%
Fines & Forfeits0.9%
Donations From Private Sources0.8%
Federal Intergovernmental Transit Utilities0.8%
Air Transportation Charges0.6%
Workers Compensation - Other Contributions0.6%
Death & Gift Tax0.6%
Hospital Charges0.5%
Rents0.4%
Occupation & Business License Not Elsewhere Classified0.4%
Transit Utilities Revenue0.4%
Documentary & Stock Transfer Tax0.4%
Public Utilities Tax0.4%
Local Intergovernmental Health & Hospitals0.3%
Taxes Not Elsewhere Classified0.3%
Sewerage Charges0.3%
Other In Trust - Other Contributions0.3%
Local Intergovernmental Other0.3%
Federal Intergovernmental Other Natural Resources0.3%
Corporation License Tax0.3%
Federal Intergovernmental Employment Security Administration0.2%
Local Intergovernmental Education0.2%
Workers Compensation - Interest Earnings0.2%
Water Transportation & Terminal Charges0.2%
Federal Intergovernmental Sewerage0.2%
Alcoholic Beverage Sales Tax0.1%
Amusement Tax0.1%
Motor Vehicle Operators License0.1%
Parks & Recreation Charges0.1%
Local Intergovernmental Public Welfare0.1%
Local Intergovernmental Highways0.1%
Federal Intergovernmental Water Utilities0.1%
Other In Trust - Interest Revenue0.0%
Hunting & Fishing License0.0%
Natural Resources Not Elsewhere Classified Charges0.0%
Unemployment - Interest Revenue0.0%
Regular Highway Charges0.0%
Housing & Community Development Charges0.0%
Sale of Property0.0%
Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%
Federal Intergovernmental Air Transportation0.0%
Other License Tax0.0%
Parimutuels Tax0.0%
Alcoholic Beverage License Tax0.0%
Local Intergovernmental Transit Utilities0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Amusement License Tax0.0%

2023 Revenue Breakdown

Individual Income Tax20.4%
Federal Intergovernmental Public Welfare18.8%
Total General Sales Taxes11.5%
Federal Intergovernmental Health & Hospitals6.0%
Federal Intergovernmental Education5.2%
Corporation Net Income Tax3.4%
Other Selective Sales Taxes3.0%
Higher Education Tuition Charges2.6%
Federal Intergovernmental Other2.4%
Motor Fuels Sales Tax2.2%
Amusement Tax2.0%
Miscellaneous General Revenue Not Elsewhere Classified1.9%
Property Tax1.8%
Insurance Premium Tax1.4%
Net Lottery Revenue1.4%
Toll Highway Charges1.3%
Higher Education Auxiliary Charges1.3%
Interest Earnings1.3%
Federal Intergovernmental Highways1.2%
Federal Intergovernmental Housing & Community Development1.0%
Unemployment - Contribution1.0%
Motor Vehicle License0.9%
Tobacco Sales Tax0.7%
All Other Not Elsewhere Classified Charges0.7%
Donations From Private Sources0.6%
Occupation & Business License Not Elsewhere Classified0.5%
Air Transportation Charges0.5%
Death & Gift Tax0.5%
Taxes Not Elsewhere Classified0.5%
Fines & Forfeits0.4%
Workers Compensation - Other Contributions0.4%
Documentary & Stock Transfer Tax0.4%
Sewerage Charges0.3%
Rents0.3%
Public Utilities Tax0.2%
Corporation License Tax0.2%
Hospital Charges0.2%
Federal Intergovernmental Employment Security Administration0.2%
Local Intergovernmental Other0.2%
Other In Trust - Other Contributions0.1%
Transit Utilities Revenue0.1%
Water Transportation & Terminal Charges0.1%
Federal Intergovernmental Sewerage0.1%
Federal Intergovernmental Other Natural Resources0.1%
Alcoholic Beverage Sales Tax0.1%
Parks & Recreation Charges0.1%
Unemployment - Interest Revenue0.0%
Motor Vehicle Operators License0.0%
Local Intergovernmental Education0.0%
Federal Intergovernmental Air Transportation0.0%
Natural Resources Not Elsewhere Classified Charges0.0%
Regular Highway Charges0.0%
Hunting & Fishing License0.0%
Housing & Community Development Charges0.0%
Local Intergovernmental Highways0.0%
Sale of Property0.0%
Other In Trust - Interest Revenue0.0%
Amusement License Tax0.0%
Local Intergovernmental Public Welfare0.0%
Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%
Workers Compensation - Interest Earnings0.0%
Other License Tax0.0%
Alcoholic Beverage License Tax0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Solid Waste Charges0.0%

Key Insights

  1. 1Total revenue increased by 70.6% from 2012 to 2023, representing a significant change in the state's financial position.
  2. 2Utility revenue growth was exceptional, with sewerage up 86.6%, suggesting infrastructure expansion or rate adjustments.
  3. 3Population changed by 4.6%, while per-capita revenue changed by 63.0%.
  4. 4The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.
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State Expense Analysis (Maryland: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 212%
$13,270,269,000→$41,388,484,000
Per Capita Spending▲ 198%
$2,252→$6,713

Population Trends

Population Change▲ 4.6%
5,891,819 (2012)→6,165,129 (2023)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 117%
$431,636,000 (2012)→$937,230,000 (2023)
Fire Protection▼ 0%
$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 37%
$511,572,000 (2012)→$702,494,000 (2023)
Sewerage Operations▲ 132%
$106,395,000 (2012)→$246,852,000 (2023)

Administrative Expenses

Financial Administration▲ 78%
$623,457,000 (2012)→$1,109,137,000 (2023)
General Expenses▲ 133%
$444,917,000 (2012)→$1,035,795,000 (2023)

Maryland Key Insights

  1. 1Police protection spending increased by 117%, significantly outpacing population growth of 4.6%
  2. 2Per capita expenditures grew by 198%, indicating substantial service expansion or cost increases not explained by population growth alone
  3. 3General expenses increased dramatically by 133%, which may indicate classification changes, new initiatives, or reporting adjustments
  4. 4Sewerage was the fastest growing major expense category at 132% increase
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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 70%
$14,751,699,000 (2012)→$25,140,845,000 (2023)
Industrial Revenue Debt▼ 100%
$10,987,560,000 (2012)→$0 (2023)
Per Capita Debt▲ 63%
$2,504 (2012)→$4,078 (2023)

Population Trends

Population Change▲ 4.6%
5,891,819 (2012)→6,165,129 (2023)

Debt Management

Most Recent Year (2023)

Issued:$1,894,344,000
Retired:$2,128,953,000
Net Change:$-234,609,000

Debt Retirement Trend

$1,713,623,000 → $2,128,953,000▲ 24%

Key Insights

  1. 1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.