Report: DC Residents Pay Lowest Taxes In The Region
Greater Greater Washington recently analyzed a report from the DC Fiscal Policy Institute that found that DC residents (and Virginians without cars) pay some of the lowest taxes in the region.
The report totaled the income, property and car taxes for three separate (and hypothetical) groups — renters earning $50,000 a year, homeowners with $100,000 in annual income and homeowners earning $200,000 a year. (The study analyzed singles and married couples with no children and with two children.) The study did not, however, include sales or income tax in its methodology.
In almost all scenarios, DC’s tax burden is the lowest. The major exception is single households without or with children, where taxes are lower in Virginia. For married couples, Virginia’s taxes rise above DC’s mostly due to the car tax. A separate DC CFO analysis also studied homeowners earning $50,000, and also found lower taxes in DC than in Maryland and Virginia.
DC also fared well when property taxes alone were considered. The study (which has sparked some criticism in the comments section of the Greater Greater Washington post) compared property taxes for $500,000 and $700,000 residences in DC and the close in Maryland and Virginia counties for households earning $100,000 and $200,000 a year. As the table below indicates, DC residents come out paying the least in property taxes (although that is fairly common knowledge in the area).
Table from DCFPI
To read the full study (and decide for yourself how accurate its methodology is), click here.
See other articles related to: greater greater washington, taxes
This article originally published at https://dc.urbanturf.com/articles/blog/report_dc_taxes_arent_that_bad/3040.
Most Popular... This Week • Last 30 Days • Ever
Ten years later, plans to construct nearly 150 townhomes at DC's most hotly debated d... read »
LEGO lovers will likely be first in line for the National Building Museum's latest ex... read »
Last year, Shiloh Baptist Church selected Monarch Urban to redevelop 1515 9th Street ... read »
JBG Smith has plans for a seven-story project along Crystal Drive.... read »
The "trailer park" where homes sell for millions; a renters utopia; and ideas for whe... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
With a groundbreaking ceremony on Wednesday, the redevelopment of the Georgetown Wes... read »
The 23,600 square-foot mansion just hit the market, and would set a record if it fetc... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- Reservoir District: 146 Townhomes Planned at McMillan Site Look For Final Design Approval
- BRICK CITY: DC's New LEGO Exhibit Brings in Architecture From Around the World
- HPO Recommends Approval For 45-Unit Condo Development Pitched For Former Church Site in Shaw
- And Another One: Block-Long, 370-Unit Development Pitched For Crystal City
- Wednesday's Must Reads
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- The Four Seasons Private Residences in Georgetown Break Ground
- DC's Blaine Mansion Lists For $30 Million, A Potentially Record-Setting Price in the City
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
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!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro