DC Council to consider 2 property tax bills - DC News FOX 5 DC WTTG

DC Council to consider 2 property tax bills

Posted: Updated:

WASHINGTON (AP) - The D.C. Council will consider two bills intended to shield residents from skyrocketing property taxes.

One bill scheduled for a vote Tuesday would prevent taxes on homes from increasing more than 5 percent per year. It would also abolish the requirement that city homes be assessed at a minimum of 40 percent of their value.

Another bill would eliminate property taxes for people who are at least 75 years old, have lived in the city for 25 years or more and earn less than $60,000 annually.

Both bills appear to have enough support to pass. But the D.C. Fiscal Policy Institute has urged the council to vote against them. The group says the 5 percent cap would largely benefit owners of homes worth $550,000 or more.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices