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."
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.
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