DC Tax Abatement Program Updates

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.