Revenue Provisions in DC’s New Budget
In June, the Council of the District of Columbia passed legislation adopting a new budget and financial plan, beginning this coming October 1 and extending through fiscal year 2028.
Blog posts
DC families earning up to $250k have a lower than average tax burden compared to neighboring jurisdictions
We recently released our annual tax burden study for the DC metro area, which compares the state and local taxes a hypothetical family of three would pay in DC and surrounding jurisdictions. This year’s report covers taxes from tax year 2022.
DC Economic and Revenue Trends Review: July 2024
Each month, our office publishes a review of economic and tax revenue data for DC. The review includes data on employment and wages, residential and commercial real estate, hospitality, the US economy and federal government, and DC tax collections. Below are the highlights from our latest review.
DC Economic and Revenue Trends Review: June 2024
Each month, our office publishes a review of economic and tax revenue data for DC. The review includes data on employment and wages, residential and commercial real estate, hospitality, the US economy and federal government, and DC tax collections. Below are the highlights from our latest review.
The Increasing Levels of Vacant Office Space: The Achilles’ Heel of DC's Office Market
When a city's commercial office buildings are experiencing a trend of increasing net vacant space over the long term, it signifies a growing lack of demand for office space in the market. This surplus of available office space can prompt a decline in property assessment values as the buildings produce less net income and are considered less sought-after assets. In this context, fewer investors/potential buyers may be less inclined to purchase these buildings, reducing sale prices for the few transactions that do occur.
June Revenue Estimate Remains Unchanged from February, with Flat Growth This Year and Modest Growth in Upcoming Years
Below is the letter and accompanying presentation our office sent to the D.C. Mayor and Council, outlining our latest quarterly revenue estimate for June 2024. You can find the full letter with data appendices here. The presentation in powerpoint format is here.
DC Economic and Revenue Trends Review: May 2024
Each month, our office publishes a review of economic and tax revenue data for DC. The review includes data on employment and wages, residential and commercial real estate, hospitality, the US economy and federal government, and DC tax collections. Below are the highlights from our latest review.
The Great Economic Rebranding: Navigating the New Economic Horizon Post-COVID
In the evening hours of October 8, 1871, a fire erupted in Chicago. This event would later become known as the Great Chicago Fire.
DC Economic and Revenue Trends Review: April 2024
Each month, the Office of Revenue Analysis in the DC Office of the Chief Financial Officer publishes a review of economic and tax revenue data for DC. The review includes data on employment and wages, residential and commercial real estate, hospitality, the US economy and federal government, and DC tax collections. Below are the highlights from our latest review.