Announcement Date: January 12, 2018

Per The Washington Post, the District of Columbia Office of Tax and Revenue (OTR), a municipal agency independent of the D.C. mayor’s administration, reduced the 2018 value assessment of the Trump International Hotel – Washington, D.C. by $53.6 million, taking $991,367 off of the property’s tax bill. The assessment of the property’s value is based off of the hotel’s 2016 operations. Though it is not unusual for profit-making property owners to appeal value assessments, the Post reported that this is the first time that the Trump Organization has successfully appealed the OTR and received a value reduction for the Trump International Hotel – Washington, D.C.