The Baltimore City Council voted Monday to raise the Homestead Tax Credit cap from 4% to 5%, a move supporters say will help fund a proposed one-cent reduction in the city’s property tax rate.

Councilman Yitzy Schleifer voted against the measure, arguing that it amounts to a tax increase on homeowners.

“This bill is strictly a tax increase,” Schleifer said, adding that the city should find the approximately $2 million needed for the proposed tax rate reduction within its nearly $5 billion budget rather than raising taxes on owner-occupied homes.