What's Hot: Where Are People House-Rich in DC? | Rendering Revealed for One of the Largest New Residential Developments in Friendship Hts
First-Timer Primer: Tax Relief for DC Homeowners

This article is being re-published with updated links at the request of a number of UrbanTurf readers.
When you buy a home in the District, you will have to pay property taxes along with your mortgage and homeowner’s insurance. As housing values shoot up, property taxes may rise just as quickly, creating a greater monetary outlay than what new homeowners initially planned for. Luckily, DC has a few ways to lower the tax burden.
story continues below
loading...story continues above
All Owner-Occupants are Eligible for the Homestead Deduction
Homeowners in DC can file an application with the Office of Tax and Revenue for a Homestead Deduction. The primary benefit of the deduction is to bring down the taxable value of your home. According to DC’s Office of Tax and Revenue, the deduction reduces your property’s assessed value by $78,700. To be eligible for the Homestead Deduction, the property must be your principal residence and have no more than five units if it is a multi-family property.
story continues below
loading...story continues above
If you can file before tax season (by March 31st), the Homestead Deduction will apply for the entire year and all subsequent years. If you file between April 1st and September 30th, the property will only receive one half of the deduction for that year, and the full deduction for all subsequent years.
Tax Relief Available to Senior Citizens
Once a DC resident reaches the age of 65, they can file an application for senior citizen property tax relief. If the adjusted gross income of the household is less than $139,900, they will be eligible for significant tax relief. Specifically, the property tax owed will be reduced by 50 percent.
See other articles related to: property taxes, homestead deduction, first-timer primer, first-time buyers
This article originally published at http://dc.urbanturf.com/articles/blog/first_timer_primer_tax_relief_programs_for_dc_homeowners/6676
Most Popular... This Week • Last 30 Days • Ever

The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »

The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »

Developments both big and small are continuing to churn throughout the Anacostia area... read »

A look around DC to find the most equity-rich neighborhoods.... read »

A report on the DC region's housing market in April reveals how interest rates above ... read »
- $39 Million + A Basketball Court Over the Potomac: The DC Area's New Most Expensive Home For Sale
- Rendering Revealed for One of the Largest New Residential Developments in Friendship Heights
- The 17 Developments in the Works Between Anacostia and Buena Vista
- Where Are People House-Rich in DC?
- The 5% Effect in the DC-Area Housing Market
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro