DC ups Homestead Exemption benefit
The District of Columbia's Tax and Revenue Office announced they have increased the Homestead Exemption benefit to $71,400, which is applied against the property's assessed value.
That translates into an annual benefit of $606.90 for homeowners who qualify.
The benefit is limited to residential property which must be occupied by the owner/applicant and must be the principal residence of the owner/applicant.
Federal Title will continue to file the application on behalf of all homebuyers who qualify.