It was part of her platform when she was running for DC’s At-Large City Council seat, and now Anita Bonds is making good on her promise.
The councilwoman recently introduced a bill that would exempt DC homeowners who are over the age of 75 and have lived in DC for at least 25 years from paying property taxes, DCist reported on Tuesday. The exemption would be limited to seniors making $60,000 a year or less.
As far as ensuring that the tax break only goes to people who meet the residency requirement, [Bonds’ spokesperson] David Meadows says people would sign an affidavit claiming they have been in D.C. for at least 25 years. “Let’s say it goes into effect in for 2014 taxes, which are filed in 2015,” Meadows says. “That’s 1990. Property tax records are on file.”
DC already has some tax relief in place for seniors. Once a city resident reaches the age of 65, they can file an application for “disabled or senior citizen property tax relief.” If the adjusted gross income of the household is less than $100,000, the property tax owed will be reduced by 50 percent.
This article originally published at http://dc.urbanturf.com/articles/blog/dc_bill_would_exempt_senior_homeowners_from_property_taxes/7158
Most Popular... This Week • Last 30 Days • Ever
Landmark Theatres is in the final stages of negotiations that would have it operating... read »
The housing market last month was not as hot as September 2020, but that is probably ... read »
The next phase on the Center Block would deliver 166 apartments and 221 hotel rooms.... read »
DC's crane count still ranks as one of the highest among U.S. cities despite a declin... read »
The latest installment of Above Asking revisits two recently-featured listings in the... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
The yet-to-be-built home may set a new bar for luxury in the residential real estate ... read »
Federal Realty plans to eventually file a planned unit development application for th... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro