DC Tax Abatement breakdown

By Catherine Schmitt
General Counsel, Federal Title

The DC Tax Abatement Program provides an exemption from the DC 1.1% Recordation Tax and an allowable credit from your seller(s) of 1.1% equal to the DC Transfer Tax. Additionally, the program provides a five-year real estate tax abatement that begins October 1 following your date of closing.

In order to qualify, the total gross household income must not exceed:

In addition to meeting the above salary requirements, the property must be owner-occupied by a first-time homebuyer and the purchase price of the property shall not exceed $332,000.00.

You will be required to provide the closing agent copies of the following:

• Copies of your tax returns from the last two years,
• Copies of your W-2s from the last two years,
• Copies of your two most recent paystubs.