Maryland Fiscal Statistics

StatisNostics/State Financials/Maryland
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20122021
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State Revenue Analysis (Maryland: 2012–2021)

Population: 5,891,819 → 6,045,680 (2.6% change)

Overall Revenue Trends

Total Revenue▲ 48.9%
$34,889,121,000 (2012)→$51,937,823,000 (2021)
Per Capita Revenue▲ 45.1%
$5,922 (2012)→$8,591 (2021)
Fund Balances▲ 49.2%
$16,760,384,000 (2012)→$25,000,973,000 (2021)
Revenue Volatility✓ Low
Avg. fluctuation: 4.7%

Major Tax Revenue

Property Tax▲ 18.2%
$755,937,000 (2012)→$893,215,000 (2021)
Sales Tax▲ 33.9%
$4,076,578,000 (2012)→$5,458,909,000 (2021)

Utility Revenue

Sewerage Charges▲ 73%
$110,520,000 (2012)→$191,166,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Amusement License Tax▲ 5061.5%
$26,000→$1,342,000
Amusement Tax▲ 3661.3%
$27,504,000→$1,034,508,000
Local Intergovernmental Transit Utilities▲ 1377.4%
$686,000→$10,135,000

Declining/Slowest Growing Sources

Workers Compensation - Interest Earnings▼ 99.4%
$57,878,000→$329,000
Local Intergovernmental Education▼ 73.0%
$74,920,000→$20,214,000
Transit Utilities Revenue▼ 65.6%
$135,448,000→$46,551,000

Revenue Forecast

Projected Revenue (Next Year)▲ 7.9%
Estimated: $56,016,870,788
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

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%

2021 Revenue Sources

Federal Intergovernmental Public Welfare19.9%
Individual Income Tax19.6%
Total General Sales Taxes10.5%
Federal Intergovernmental Health & Hospitals6.2%
Federal Intergovernmental Education3.6%
Corporation Net Income Tax3.5%
Other Selective Sales Taxes3.3%
Higher Education Tuition Charges2.8%
Federal Intergovernmental Other2.5%
Amusement Tax2.0%
Motor Fuels Sales Tax2.0%
Property Tax1.7%
Miscellaneous General Revenue Not Elsewhere Classified1.7%
Federal Intergovernmental Housing & Community Development1.6%
Net Lottery Revenue1.5%
Insurance Premium Tax1.5%
Federal Intergovernmental Highways1.4%
Unemployment - Contribution1.3%
Toll Highway Charges1.3%
Federal Intergovernmental Transit Utilities1.2%
Interest Earnings1.0%
Motor Vehicle License1.0%
Higher Education Auxiliary Charges0.8%
All Other Not Elsewhere Classified Charges0.8%
Tobacco Sales Tax0.7%
Donations From Private Sources0.6%
Documentary & Stock Transfer Tax0.5%
Death & Gift Tax0.5%
Taxes Not Elsewhere Classified0.5%
Occupation & Business License Not Elsewhere Classified0.4%
Sewerage Charges0.4%
Air Transportation Charges0.4%
Corporation License Tax0.3%
Public Utilities Tax0.3%
Fines & Forfeits0.2%
Federal Intergovernmental Employment Security Administration0.2%
Hospital Charges0.2%
Rents0.2%
Water Transportation & Terminal Charges0.2%
Local Intergovernmental Other0.2%
Workers Compensation - Other Contributions0.2%
Federal Intergovernmental Sewerage0.1%
Other In Trust - Other Contributions0.1%
Federal Intergovernmental Other Natural Resources0.1%
Transit Utilities Revenue0.1%
Alcoholic Beverage Sales Tax0.1%
Parks & Recreation Charges0.1%
Federal Intergovernmental Air Transportation0.1%
Federal Intergovernmental Water Utilities0.1%
Local Intergovernmental Highways0.1%
Motor Vehicle Operators License0.0%
Local Intergovernmental Education0.0%
Hunting & Fishing License0.0%
Natural Resources Not Elsewhere Classified Charges0.0%
Regular Highway Charges0.0%
Other In Trust - Interest Revenue0.0%
Housing & Community Development Charges0.0%
Local Intergovernmental Transit Utilities0.0%
Sale of Property0.0%
Unemployment - Interest Revenue0.0%
Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%
Other License Tax0.0%
Amusement License Tax0.0%
Parimutuels Tax0.0%
Alcoholic Beverage License Tax0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Workers Compensation - Interest Earnings0.0%
Solid Waste Charges0.0%

Key Insights

  1. 1Total revenue increased by 48.9% from 2012 to 2021, representing a significant change in the state's financial position.
  2. 2Utility revenue growth was exceptional, with sewerage up 73.0%, suggesting infrastructure expansion or rate adjustments.
  3. 3Population changed by 2.6%, while per-capita revenue changed by 45.1%.
  4. 4The state's fund balances increased by 49.2%, suggesting improved fiscal health.
  5. 5Revenue has been relatively stable (avg. fluctuation ~4.7%).
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State Expense Analysis (Maryland: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 47%
$13,270,269,000→$19,473,351,000
Per Capita Spending▲ 43%
$2,252→$3,221

Population Trends

Population Change▲ 2.6%
5,891,819 (2012)→6,045,680 (2021)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 57%
$0 (2012)→$0 (2021)
Fire Protection▼ 0%
$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 23%
$0 (2012)→$0 (2021)
Sewerage Operations▲ 108%
$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 47%
$0 (2012)→$0 (2021)
General Expenses▲ 137%
$0 (2012)→$0 (2021)

Maryland Key Insights

  1. 1General expenses increased dramatically by 137%, which may indicate classification changes, new initiatives, or reporting adjustments
  2. 2Sewerage was the fastest growing major expense category at 108% increase
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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▲ 34%
$14,751,699,000 (2012)→$19,829,441,000 (2021)
Industrial Revenue Debt▼ 2%
$10,987,560,000 (2012)→$10,822,561,000 (2021)
Per Capita Debt▲ 31%
$2,504 (2012)→$3,280 (2021)

Population Trends

Population Change▲ 2.6%
5,891,819 (2012)→6,045,680 (2021)

Debt Management

Most Recent Year (2021)

Issued:$6,213,980,000
Retired:$2,335,630,000
Net Change:+$3,878,350,000

Debt Retirement Trend

$1,713,623,000 → $2,335,630,000▲ 36%

Key Insights

  1. 1New debt issuance significantly increased the per-resident debt burden (up 31%).