DC Tax Abatement Program Updates
Visit our DC Tax Abatement program guide for the most up-to-date information.
The Office of Tax and Revenue updated two key components of the DC Tax Abatement Program and we have the details.
The DC Tax Abatement Program, officially The Lower Income Homeownership Exemption Program, provides first time home buyers the opportunity of tax abatement on a purchased property for the first five years of residency, beginning October 1 following the date of closing.
The two essential areas of this program, limits on income levels and the price for a property, have both increased.
Qualifying Income Table for Lower Income/Shared Equity Homeownership Exemption
Persons in Household Household Income Limits 1 $69,180 2 $79,020 3 $88,920 4 $98,760 5 $106,680 6 $114,600 7 $122,520 8 $130,380
Qualifying Income Table for Economic Development Zones: Lower Income Homeownership Exemption
Persons in Household Household Income Limits 1 $99,350 2 $113,500 3 $127,700 4 $141,900 5 $150,750 6 $150,750 7 $150,750 8 $150,750
The purchasing price limit for a property has increased to $516,800.