Ask an Agent: Will the New Tax on Co-ops Make Them Less Appealing to Buyers in DC?
Starting in two weeks, co-op sales in DC will be taxed under an economic interest tax, which will be set at 1.1 percent for residential property sales less than $400,000 and at 1.45 percent for sales $400,000 and above. In this week's installment of Ask An Agent, a reader wonders if this new tax will make co-ops a more unappealing property buy than condos. More after the jump.