JBG is D.C.’s top property taxpayer, Georgetown top employer
wtopstaff January 30, 2012 2:39 pm01/30/2012 02:39pm
The value of taxable real property in the District fell from $150.1 billion in 2010 to $139.3 billion in 2011. Here's a snapshot of D.C.'s Comprehensive Annual Financial Report.
It’s my favorite time of the year (not including wedding anniversary, family birthdays, and so on). D.C.’s Comprehensive Annual Financial Report, released Monday, offers one statistical nugget after another.
Let’s get to it:
The value of taxable real property in the District fell from $150.1 billion in 2010 to $139.3 billion in 2011. The fall is attributed almost entirely to commercial property, the assessed value of which dropped from $68 billion to $59 billion in a single year.
The value of tax exempt property, $81.5 billion, tops that of taxable residential property, $80 billion, for the second consecutive year. The volume of tax exempt property, D.C. leaders say, is a major reason why the District’s budget faces a “structural imbalance.”
The top property taxpayers were led, again, by JBG/Federal Center LLC, whose Southeast Federal Center had a taxable assessed value of $589.3 million in 2011. Manufacturers Life Insurance (555 12th St. NW) was second, Carr CRHP Properties LLC (1835 I St. NW) third, Warner Investments LP (501 13th St. NW) fourth, David Nassif Associates fifth (400 7th St. SW), Second Street Holding LLC (100 F St. NE) sixth, and Washington Square LP (1050 Connecticut Ave. NW) seventh.
Georgetown University remained the District’s top employer in 2010, the most recent year data is available. Georgetown University Hospital, meanwhile, moved up from sixth in 2009 to fifth in 2010. Howard University continued its fall, dropping from first in 2008 to fifth in 2009 and seventh in 2010.
The District’s total long term bond debt is now $7.4 billion, or about $12,300 per resident.
The principal payment on the Washington Nationals ballpark bonds will total $4.9 million in 2012. The interest payment on the same bonds in 2012: $26.5 million.
For trivia purposes, there are 68,000 street lights, 1,603 signalized intersections, 144,000 trees (down from 146,920 in 2010), and 1,007 miles of secondary streets in D.C.