Ten members of the Council of the District of Columbia voted for and passed the “Senior Citizen Real Property Tax Relief Act of 2013” earlier this week. The bill will now be submitted to DC Mayor Gray for his signature.
If it passes, it will provide a significant savings to seniors who own property and have lived in DC for a significant time by exempting seniors who qualify from having to pay any property taxes on their residence. In order to qualify the resident must:
- Be at least 70 years of age,
- Have maintained DC residency for at least 20 years,
- Have a household adjusted gross income of less than $60,000, and
- Maintain total assets of $250,000 or less, excluding the residence
We will have updated information once the bill has been either signed or vetoed by the mayor.
UPDATE: Mayor Vince Gray signed the “Senior Citizen Real Property Tax Relief Act of 2013” into law on March 25, 2014.