DC Council Advances Senior Property Tax Exemption
WASHINGTON — The D.C. Council has given preliminary approval to a bill that would eliminate property taxes for some elderly residents.
The bill would exempt residents from property taxes if they’re at least 75 years old, have lived in the city for 15 years or more and earn less than $60,000 annually. It was approved unanimously Tuesday, but several members said they had concerns, and the bill could be changed before a final vote.
Meanwhile, Councilmember Jack Evans postponed a vote on a more wide-reaching measure that would prevent residential property taxes from increasing more than 5 percent per year. It’s meant to shield residents from huge tax hikes when their homes increase in value. Mayor Vincent Gray opposes the bill, noting its cost and the city’s competitive property tax rates.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)