Home | Newsletter | Advertise
loading...

DC Council Passes First Reading of Bill Nixing Property Tax for Some Seniors

  • January 7th 2014

by Lark Turner

DC Council Passes First Reading of Bill Nixing Property Tax for Some Seniors: Figure 1

Some elderly homeowners in DC could eventually see their property taxes disappear.

Legislation introduced by Councilmember Anita Bonds, which would exempt homeowners aged 75 and older from paying property taxes, was given initial approval by the Council on Tuesday. Only those senior citizens who have lived in DC for 15 consecutive years and have an annual income of $60,000 or less would be eligible.

The measure passed unanimously on its first reading, but changes are expected to the bill before the second reading. It’s expected to cost $16 million over four years and still has a ways to go before becoming law.

Councilmember Bonds says the measure is a way to say “thank you” to DC’s longtime residents facing dramatic property tax increases. Critics contend that the measure doesn’t address renters and is unnecessary: the District currently offers a 50 percent property tax reduction to homeowners over the age of 65 with an adjusted gross income under $100,000.

See other articles related to: anita bonds, property taxes

This article originally published at https://dc.urbanturf.com/articles/blog/council_passes_bill_nixing_property_tax_for_some_seniors/7964.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse