Hyattsville property tax base up 16.3%

Increase is in line with county but low compared to the rest of the state

Hyattsville’s property tax base increased 16.3% in the latest round of property tax assessments, according to data obtained from the state Department of Assessments and Taxation. Properties are assessed on a three-year cycle, with all Hyattsville properties reassessed as of January 1, 2025. The last assessment in 2022 resulted in a 12.8% citywide increase.

The non-exempt residential property tax base went up 18.8%, with the median improved residential property receiving a 11.7% increase. Approximately 63% of the city’s property wealth is in developed residential properties, which include apartments, townhouses, and single-family houses. Another 21% is in commercial properties, with the remaining 15.6% used for tax-exempt purposes, including publicly owned land.

Despite the 16% increase, the city will not see an immediate 16% jump in property tax revenues, because assessment increases in Maryland phase-in over three years. The median property assessment will only jump 4% for the next round of tax bills. The city council has approved operating deficit budgets for several years running, with the FY 2025 budget allowing for a $4.9 million deficit in the general fund. Route One Finance estimates closing that gap with property tax increases alone in FY 2026 would require raising the tax rate to about 77 cents per $100 of assessed value, or a 22% increase off the current rate of 63 cents.