Property Tax Victory! (For Now)

tax-victory

A blitz by homeowners and Realtors fought off a
surprise attack by the DC Council on homeowners.
On May 13th, Councilman Grosso proposed a new tax
in the District on expensive homes.

The new tax would have raised the residential
property tax 47% on a home’s value above $1.5
million, and 76% on a home’s value above $5 million.

The new tax was introduced at the last minute as
an amendment to the annual budget. Immediately
citizens organized to fight the increase. Hundreds
responded and the amendment was withdrawn
quickly; however, after losing on the amendment
Councilman Grasso introduced the tax increase
separately as a stand alone bill Residential Real
Property Taxes Equitable Alignment Act (B23-0299).

The sponsors are calling the proposed tax a
“mansion tax” and list many worthwhile programs to
receive the money, but taxes are high enough and city
revenue has already increased greatly because of the
strong real estate market. The real estate market
would be hurt by this increase; moreover if passed,
eventually the tax increase would likely be extended
to all DC properties. Please contact the DC Council
and tell them to vote against this bad tax.

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