Press Release: Chairman Mendelson Celebrates September Revenue Estimates

News Release — DC Council Chairman Phil Mendelson

Monday, September 30, 2019

CONTACT: Lindsey Walton

WASHINGTON, DC – DC Council Chairman Phil Mendelson is applauding today’s release of the revised revenue estimates as “great news for the District” as the city concludes the 2019 Fiscal Year.  

The Chief Financial Officer briefed the Chairman on the estimates for this and next fiscal years. 

“The latest revenue estimates demonstrate the strength of the District’s economy and financial future,” Mendelson said. “I am especially proud to note that the new estimates will allow our law regulating short-term rentals to finally take effect. This removes one of the final barriers to legalizing short-term rentals in people’s homes. The outlook for the city continues to look very healthy.”

For fiscal year 2019 the District is projected to receive an additional $80 million over what was estimated in June, bringing the revised total revenue for the fiscal year to $281 million over the previous fiscal year. For the new fiscal year – 2020 – the CFO has estimated $31.5 million in additional revenue, about 2.5% year over year revenue growth. 

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