Perspective - Balancing DC's Budget is far from simple, but Budget Director Matthew Brown illustrated how it could be most easily understood at our recent Speaker Series.
Slicing The Pies
DC Budget Director Matthew Brown
Of course, we are talking about pie charts, specifically the DC Budget chart that adds up to over $11 billion. How does one jurisdiction handle a number like that? DC's Budget Director Matthew Brown gave the facts to our members at our March Speaker Series.
In short, trying to digest a massive Budget for 2017 at face value is nearly impossible. Instead, as Mr. Brown pointed out, it's better to look at the Budget as a single dollar, which is then allocated to various public functions, agencies and initiatives.
(View Mayor Bowser’s Budget Engagement Forum Presentation)
So what happens between now and the passing of the Budget? The number crunchers put down their pencils, which starts the process of ratifying the FY 2017 Budget. Beginning in April, the Council will conduct hearings and have their own round of amendments. The final Budget usually passes in June and goes into effect October 2016.
In the meantime, DCAR is keeping a close eye on Recordation and Transfer taxes, the Real Estate Guaranty Fund, affordable housing and infrastructure investments.
We would like to extend our thanks to Matthew Brown for taking time out of his busy schedule to talk shop with our members.
Previously on What’s Happening @ DCAR...
DC’s 2017 Budget On The Horizon
Mayor Bowser put together a proposal to best utilize your tax dollars. It accounts for everything from transportation to new economic development projects. The District's homelessness crisis has been a major sticking point for Mayor Muriel Bowser. DC has spent more than $172,000 on homeless encampment cleanup. Furthermore, the Mayor has laid the groundwork to establish shelters throughout DC's eight wards.
In early February, Mayor Bowser revealed her Office's selection of seven proposed family homeless shelters across DC's wards. The Mayor's announcement also cleared a path for the District to close the beleaguered DC General shelter.
DC's residents responded quickly to the announcement with FOIA requests to learn more about the proposal. The investigation revealed nearly three dozen sites considered by the Mayor's office.
Some Budgetary Facts for REALTORS®:
A first-time DC homebuyer tax benefit could be on the docket this year.
Mayor Bowser has a massive $200M affordable housing plan.
There's a strong relationship between DC's Budget and real estate.
DC Councilman and mayoral candidate Tommy Wells tweeted that he is going on a road trip with fellow Councilmember Marion Barry to the capitol of Maryland to promote the success of DC’s plastic bag tax.
DC councilmember Jim Graham held a hearing Wednesday on a slate of bills designed to help the city balance its budget with booze.
Two of the proposals come from Mayor Vincent Gray himself. In his fiscal year 2012 budget, Gray proposes extending the hours of sale at liquor stores from 10 PM to midnight. The mayor also suggests increasing the tax on alcohol sold in stores from 9 percent to 10 percent.
Meanwhile, the city’s alcohol administration proposes stripping away some prohibitions on Sunday sales. For instance, it suggests allowing liquor stores to open on Sunday. It also recommends allowing District restaurants, hotels, and bars to start selling alcohol at 8 AM instead of 10 AM on Sunday to quench the thirst of the growing brunch crowd.
