Mapping DC's Proposed Mansion Tax
✉️ Want to forward this article? Click here.
The DC Policy Center has mapped the DC neighborhoods that would most be affected by a proposed "mansion tax" for the city.
Earlier this week, as part of his 2025 budget proposal, DC Council Chair Phil Mendelson included a plan to raise taxes on homes in the city valued at more than $2.5 million. Specifically, the tax would be $1 for every $100 of assessed property value above $2.5 million. Usable and occupied residential properties in DC are taxed at a rate of $0.85 per $100 of the assessed value.
story continues below
loading...story continues above
On Friday, the DC Policy Center put out a chart looking at the neighborhoods that have the highest volume of homes affected by the new tax.
"Georgetown is home to the most properties assessed above $2.5 million, at 515 properties, or 20 percent of its total properties," the post stated "Of all neighborhoods in the District, Massachusetts Avenue Heights has the highest percentage of properties assessed above $2.5 million, with 50.7 percent of all properties in the neighborhood falling into that category. Over 50 percent of the estimated increase in tax revenue will come from three neighborhoods: Georgetown, Kalorama, and Massachusetts Avenue Heights."
Other neighborhoods with a high proportion of homes that would be taxed include Spring Valley, Kent, Palisades and Chevy Chase.
See other articles related to: dc mansion tax, mansion tax
This article originally published at https://dc.urbanturf.com/articles/blog/mapping_dcs_proposed_mansion_tax/22375.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
This week’s Best New Listings includes a townhouse on a secluded alley block and a ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Best New Listings: One Of 10 On U Street; Moved By Horses To Tenleytown
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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