The Treasurer’s Office is committed to providing the highest level of exemplary service and ensuring financial integrity by providing the Mayor, Town Council, management and our citizens with timely and accurate information.
The mission of the Treasurers Office is to oversee the financial operations of the Town; implement sound fiscal policies to ensure the long term financial sustainability of the community; maintain the public’s trust through transparent and responsible accounting practices; and being faithful stewards of the taxpayer’s funds.
Responsibilities of the Finance Department/Treasurer
- Establishing and maintaining sound fiscal policies
- Producing and monitoring the Town’s Annual Budget
- Preparing financial and administrative reports
- Accounts Payable and Fixed Assets
- Accounting and Financial Reporting
- Managing the annual audit
- Collecting and disbursing Town funds
- Collection of local taxes
- Maintaining vendor files and relationships
- Processing the payroll
- Issuance of business license
- Overseeing and monitoring all Town purchases and ensuring all purchases are in accordance with federal, state and Town laws
- Serving as the Custodian of all Town funds
Business Personal Property Tax
Business Personal Property Tax (click for info) is an annual tax levied on business-owned personal property located in Bladensburg which generally includes furniture, fixtures, office and industrial equipment, inventories, machinery, tools, supplies, etc.
Businesses must report to the Maryland State Department of Assessments and Taxation (SDAT) each year the original cost of personal property owned as of the end of the prior year broken out by location, asset category, and by year acquired.
The Personal Property Tax is calculated by multiplying the assessed value as determined by SDAT, by the Town tax rate of $0.0209. Personal property tax bills are mailed to businesses throughout the taxable year (July – June) as business assessment information is received SDAT.
Businesses in Bladensburg will receive two documents related to personal property taxes – 1) the assessment from SDAT, which is not a bill, and 2) the actual tax bill from the Town based on this assessment. Failure to file the return and/or pay the tax will result in forfeiture of your corporate charter and denial of renewal of business licenses.
Exemptions and what’s not taxable – these include real estate, registered vehicles, marine and farming equipment, and property owned by exempt organizations.
Example of Types of Organizations and Annual Personal Property Tax Returns Required and listed on SDAT’s website and listed below. Please refer to a qualified party for assistance with these forms and filings since the Town can offer no legal or accounting advice:
|Type of Organization||Annual Personal Property Tax Form*|
|MD Corporations||Form 1 and Form 4A**|
|MD Limited Liability Companies (LLC’s)||Form 1 and Form 4A**|
|MD Limited Liability Partnership (LLP’s)||Form 1 and Form 4A**|
|MD Sole Proprietor or General Partnership||AT3-51***|
|Banks, Savings and Loans, Trust Companies, Credit Unions, other Financial Institutions||AT3-15, AT3-28, or AT3-75**|
|Form 1 and Form 4A**|
|Out of State (Foreign) Corporations||Form 1 and Form 4A**|
|Out of State (Foreign) LLC’s||Form 1 and Form 4A**|
|Out of State (Foreign) Limited Liability Partnerships (LLP’s)||Form 1 and Form 4A**|
* Consult an accountant or tax advisor with Personal Property Tax Forms and Filings
** Must list Bladensburg as an Incorporated Municipality where Personal Property is Located
Is your Business in Good Standing?
Most businesses operating in Maryland must file a Personal Property Tax Return by April 15 each year to maintain “Good Standing” with the State Department of Assessment and Taxation (SDAT). Without “Good Standing,” a business may lose limited liability or other legal protections associated with being a corporation, limited liability company (LLC), limited partnership (LP), limited liability partnership (LLP), or certain types of trusts or farms. Businesses may not renew or apply for a business license with the Town or County if it is not in Good Standing.
How does a Business Maintain Good Standing?
- For a business to be in good standing it must:
- File Articles of Incorporation or equivalent documents with SDAT;
- File the name and address of a valid, active resident agent;
- File annual Personal Property Tax returns;
- Pay penalties;
- Have a charter, which has not been forfeited;
- Not be dissolved;
- Not have merged out of existence or consolidated; and
- File a Personal Property Return (Form 1) annually.
An entity may be bankrupt, under indictment, and owe taxes to state, local and federal government, yet still be in Good Standing with SDAT.
Business Personal Property Tax assessments are determined by the annual Personal Property Tax filings.
How do I check to see if a business is in Good Standing?
Click here to go to SDAT’s Business Entity Search
- On the “Search By” field, drop down the list to search by Business Name
- Enter the business name or part of a business name (do not enter any punctuation, or business suffixes such as LLC or Inc)
- Select the correct business from the list of search results
- The business information should appear with the first result being the “General Information”
- At the bottom of the data is a field titled “Good Standing”. The result should read
- “THIS BUSINESS IS IN GOOD STANDING”
What does it mean if it says “NOT IN GOOD STANDING” or “FORFEITED”?
Real Estate Taxes
Commonly referred to as “Real Property Taxes”. These are assessed and billed in advance on a fiscal year basis, commencing July 1 of each year. The Town of Bladensburg Real Property Tax is included in the consolidated Prince George’s County tax bill. The current Real Property Tax Rate is $.74 per $100 Assessment Value or .0074 of the total Assessed Value. This rate is set annually by the Mayor and Council and has not changed for many years.
Information regarding your Prince George’s County Tax Bill can be found here: Prince George’s County Real Estate Tax Info
Real property tax bills are issued in July, by the County, with payments due by September 30th and December 31st. The liability for timely payment of the real property tax is the responsibility of the property owner, irrespective of whether a mortgage lender customarily makes payment from an escrow account.
The Constant Yield Tax Rate is calculated by the Maryland State Department of Assessment and Taxation (SDAT) for each taxing authority in the State. It represents the Real Property Tax Rate for the coming tax year that will generate the same amount of revenue that was generated during the current tax year. As assessments increase, the Constant Yield Tax Rate decreases. Implicit in this concept is the idea that a tax rate at or below the existing tax rate is a tax increase if it is higher than the constant yield tax rate. When a taxing authority plans to impose a Real Property Tax Rate that is higher than the Constant Yield Tax Rate, it must advertise the tax increase and hold a public hearing.
The Constant Yield assumes that as assessments or property values rise, the tax rates should fall.
Constant Yied Notice from SDAT to the Town of Bladensburg Notice from SDAT
If assessments on real estate rise and if the municipality does not reduce its tax rate, then the Municipality has to advertise this as a tax increase.
Current Town of Bladensburg Constant Yield Advertisement:
Constant Yield Advertisement
The reality is that Municipal corporations may set any tax rate for personal property without regard to the Constant Yield Tax Rate process. Even though the Town of Bladensburg has not changed their tax rate of .0074 for many years but we must still advertise this as a tax increase if assessments increase.
Contact The Town Treasurer
For general information please email us at email@example.com