A bill that would exempt certain DC homeowners aged 70 and older from paying property taxes was passed by the DC Council on Tuesday. Only those senior citizens who have lived in the city for 20 consecutive years, have an annual income of $60,000 or less, and maintain total assets of $250,000 or less (excluding the residence) would be eligible.
The bill, authored by Councilmember Anita Bonds, was amended since its first reading back in January, to include a provision ensuring that wealthier city residents would not be able to claim the benefit.
The legislation is not without its critics who contend that it 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.
Now that the Council has passed the bill, it will go to Mayor Gray for his signature but since funding must be identified before implementation, it remains unclear if it be will signed into law.
This article originally published at http://dc.urbanturf.com/articles/blog/dc_council_passes_bill_nixing_property_taxes_for_certain_seniors/8199
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