(UPDATED 12/20/2013) Property tax relief for senior citizens who are long-term D.C. residents will be high on the agenda for the D.C. Council when it reconvenes in January, thanks to Councilmember Anita Bonds (D-at-Large).
Bonds is the author of a bill to exempt city homeowners with annual incomes of less than $60,000 from property taxes if they are over 75 and have lived in D.C. for more than 25 year. The measure cleared the Committee on Finance and Revenue Dec. 16 and will be considered during the Jan. 7 council meeting. Bonds chairs the finance and revenue committee.
If the Senior Citizen Real Property Tax Relief Act of 2013 clears the council, is signed by Mayor Vincent Gray and is approved by Congress, those homeowners who qualify will be exempt from property taxes effective Oct. 1, 2014.
According to the D.C. Council, the Office of Tax and Revenue estimates that 4,362 homeowners would see an average benefit of $1,158.00 in property taxes exempted for a total fiscal impact of $5.05 million on city revenue.
“This act will ease the financial burdens of thousands of the District’s low-to-moderate income aging population,” Bonds said in a statement. “These residents have supported the District through dire times, and they deserve the opportunity to age in place gracefully and with dignity. This legislation aims to make this sentiment a reality.”
According to the 2010 U.S. Census, the median household income in D.C. was $64,136.
AARP D.C. State Director Louis Davis Jr. said in a statement: “This measure is a step in the right direction towards making the District of Columbia livable and affordable for people of all ages and income brackets.”