Slight Increase in BID Tax

Release Date: Saturday, October 1st 2011

The DowntownDC BID Board of Directors approved the organization’s fiscal year (FY) 2012 budget at its June meeting held jointly with the BID’s annual meeting. A budget highlight includes a 1.85% increase in the assessment rate, the special tax that Downtown property owners agree to pay in return for receiving premier business services. The assessment rate increased on October 1, the beginning of the new fiscal year—the first such increase since FY 2008 for hotels and FY 2007 for other commercial space. The new assessment rates: 15.2607 cents per rentable/usable square foot (SF) of commercial space and $75.588 per hotel room. This compares to the old rates of 14.9835 cents per rentable/usable SF of commercial space and $74.215 per hotel room.