Department of Finance Corporate and Revenue Compliance Unit Recovers $15 million in Fiscal 2024

BALTIMORE, MD. (Tuesday, October 22. 2024) – The Department of Finance’s Corporate and Revenue Compliance (“CRC”) unit recently reported that it recovered more than $15 million in fiscal year 2024. The sources of revenue include hotel taxes, parking taxes, parking licenses, annual license fees, and other taxes and fees.  Established in April 2021, the CRC ensures that businesses operating within the City of Baltimore comply with the Baltimore City Code, with an emphasis on corporate rules and regulations. The department negotiates complex multi-year contracts and manages corporate revenue collection efforts, leading to the recovery of tens of millions of dollars for the City.

“Modern and efficient tax collections are vital to our success as a city. By using national best practices to ensure that our corporate partners pay their fair share, we are working to fund a better future for all Baltimoreans,” said Director of Finance, Michael Mocksten.

In addition to its revenue compliance efforts, the CRC also serves as Baltimore City’s Clean Energy Officer, helping to coordinate energy efficient, electric vehicle and renewable generation projects across multiple City agencies and ensuring that the City of Baltimore recovers elective pay under the Inflation Reduction Act.  These efforts have led to the successful pre-filing of the City’s first ever tax return, and the recovery of approximately $400,000 in fiscal year 2024.  The CRC will also coordinate efforts between Baltimore City and County agencies to study and promote the decarbonization of commercial buildings and expand elective pay efforts throughout the government and nonprofit sectors.