DC makes the Homestead Deduction a little sweeter

Last week, the DC Office of Tax and Revenue increased the Homestead Deduction benefit from $67,500 to $69,100. This benefit is applied as a reduction to a property’s assessed value for the purpose of computing the annual tax liability.

The Homestead Deduction benefit is granted to those DC residents who own and occupy their property as a principal residence. For those DC property owners who qualify, the new increased benefit will reduce the annual property tax bill by $587.35.

From the DC Office of Tax & Revenue

The Homestead benefit is limited to residential property. To qualify:

  1. An application must be on file with the Office of Tax and Revenue;
  2. The property must be occupied by the owner/applicant and contain no more than five dwelling units (including the unit occupied by the owner); and
  3. The property must be the principal residence of the owner/applicant.

For more information about the DC Homestead Deduction read our Q&A article on how to qualify and our discussion on the new application form, or visit Tax & Revenue's Homestead Deduction page.

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