DC Mayor Pledges to Not Increase Residential Property Taxes
✉️ Want to forward this article? Click here.
Taxes on residential properties in DC don't look like they will change in 2023.
At her inaugural address on Monday, Mayor Muriel Bowser said that residential property taxes would not be touched this year.
"In part, what we are doing is promising that this city is a place where people with middle incomes choose to live," the mayor said. "And in part, we are making that promise by saying that we will not touch the residential property tax, and we will find ways to provide more free activities for families."
story continues below
loading...story continues above
Usable and occupied residential properties in DC are taxed at a rate of $0.85 per $100 of the assessed value. An assessor determines the current market value of homes in the District, and property taxes may rise and fall based on the determined valuation.
DC's Homestead Exemption will deduct $84,000 from a homeowner's assessed property value when calculating the amount of property tax you must pay. To be eligible, the property must be a primary residence. For homeowners over the age of 65, the Homestead Exemption is even more valuable: senior citizens with an adjusted gross household income of less than $149,900 can have their property taxes reduced by 50 percent.
See other articles related to: dc property taxes
This article originally published at https://dc.urbanturf.com/articles/blog/dc_mayor_pledges_to_not_increase_residential_property_taxes/20457.
Most Popular... This Week • Last 30 Days • Ever
As the redevelopment of the Mazza Gallerie mall in Friendship Heights heads towards c... read »
One of the critical factors in determining whether refinancing is a wise decision is ... read »
The one-of-a-kind residence was built out of two expansive classrooms, an office, two... read »
The university and developer Greystar have filed plans with DC for the new Fusion Bui... read »
Sentinel Real Estate filed a revised conceptual site plan application this week to re... read »
- Total Wine Coming To Friendship Heights
- What Is The Best Spread To Refinance Your Mortgage?
- 13 Foot Ceilings, 5,800 Square Feet in a Historic Schoolhouse: A Rare DC Loft Hits the Market
- A First Look At The Big Plans For Howard's Wonder Plaza
- 256-Unit Project Proposed to Replace Rosslyn Buildings Moves Forward
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro