Maryland

TIA Data

2023 Financial State of Maryland (Released 10/03/2024)

Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

 
Maryland owes more than it owns.
Maryland has a -$9,700 Taxpayer Burden.™
Maryland is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Maryland only has $34.3 billion of assets available to pay bills totaling $57.7 billion.
Because Maryland doesn't have enough money to pay its bills, it has a -$23.4 billion financial hole. To fill it, each Maryland taxpayer would have to send -$9,700 to the state.
Maryland's reported net position is overstated by $457.9 million, largely because the state delays recognizing losses incurred when the net pension liability increases.
The state's financial report was released 257 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2022 Financial State of Maryland

2021 Financial State of Maryland

2020 Financial State of Maryland

2019 Financial State of Maryland

2018 Financial State of Maryland

2017 Financial State of Maryland

2016 Financial State of Maryland

2015 Financial State of Maryland

2014 Financial State of Maryland

2013 Financial State of Maryland

2012 Financial State of Maryland

2011 Financial State of Maryland

2010 Financial State of Maryland

2009 Financial State of Maryland

Other Resources

Maryland Annual Comprehensive Financial Reports

Publishing Entity: Comptroller of Maryland

IN THE NEWS
Financial Transparency Score 2025

JULY 8, 2025

In the spirit of promoting clear and accurate fiscal information, Truth in Accounting has once again assessed the transparency of state governments’ financial reporting. While state budgets receive most of the public and media’s attention, their outcomes are detailed in each government's Annual Comprehensive Financial Report (ACFR), which is audited annually by certified public accountants. Our transparency score is based on key criteria outlining best practices, offering government officials and citizens a roadmap to enhance fiscal transparency and accountability.

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