New thresholds for DC Tax Abatement

New thresholds for DC Tax Abatement
Listed over the weekend at $374,900, this 1 BR / 1BA new construction condo in the Atlantic Plumbing Building (coming soon from JBG Cos) falls below the purchase price threshold for the DC Tax Abatement Program. The threshold increased from $367,200 to $375,200.
Purchase price and income thresholds to qualify for the popular DC Tax Abatement Program have increased, hopefully making it easier for more homebuyers to become homeowners.
The numbers in this article may be out of date. Visit our guide how to qualify for DC Tax Abatement for the most current information.

The District of Columbia Office of Tax and Revenue upped the purchase price threshold to $375,200 from $367,200.

At the same time, the income threshold for a single buyer increased to $57,540 from $56,100 while the income threshold for a two-person household increased to $65,760 from $64,080.

In "Economic Development Zones," the income limits are higher. For a single buyer, it's $65,890 and for a couple it's $75,350.

For more on income limitations and the DC Tax Abatement Program, please visit our page on the DC Tax Abatement Program.

The most recent data, which is for October, shows a $400,000 median sales price in the District, the highest October-level in nine years. The October median sales price was 2.6 percent higher than September and 5.3 percent higher than the previous year.

The DC Tax Abatement Program provides an exemption from the DC 1.1% Recordation Tax and an allowable credit from your seller(s) of 1.1% equal to the DC Transfer Tax. Additionally, the program provides a five-year real estate tax abatement that begins October 1 following your date of closing.

Related Articles

Leave a comment

You are commenting as guest.
  • Ways to save at closing

    Title charges are the largest chunk of closing costs and can vary by hundreds of dollars.

    Learn more

  • What are closing costs?

    The real estate closing process involves loan steps, legal steps and title steps.

    Learn more

  • What's title insurance?

    Insure your legal ownership just like you'd insure the building, but for lots cheaper.

    Learn more

Connect with us


nss="u-1-3"> nank" class="uk-icon-large uk-iallowfullscr icle>
2 ss="wrapper" > No iframli>
  • cript"> ifyeave a comment cript"> ify?uri=blockrandom"/awei; RS andpwiifrw; RSefault> <=yes,com/ti550,s/Quick52 '0'(s)[0]k-modr clah6>Ebar-ce?Connect>uptraog/% Rec?
    ass=w-threshold-row">plateht/a> <:" wi
  • ass=w-throok uk-marg, but for lots cm/bl for lots c"> No iframli>

    Connect with us


    nss="u-1-3"> nank" class="uk-icon-large uk-iallowf s="wrapper" > No iframli>
  • ook uk-margin-righ1r cla"uk-mook uk-mar"uk-" ">ComFuk-" h3> Comps://fe-foridde5al">Comc? ook uk-margin-righ1r cl--------------------------------s=w-threshold-row">utton c://fe-fori ">Com-c://fe-fori e="text" ook uk-=w-thidth-allowf brd-iv> ook uk-margin-righ1r cl--------------------------------sg, but utton l">Com" asccialld-hi="buk-.on uk-hid ook uk-mar lots c/medionCom">GO!type="sub-iv> =w-thresholds-for-dc No iframli>

    Browse articles by topic

  • ch="{gin-riv>
    ch="{gin-rig/roc
    ch="{gin-rixg/roc
    ch="div>ch="{iv clauanel-box uk-h k-grid-match="{tas="tm-main-bottom uk-grid" data-,uk-f:-modal-grid-match="{ta="/bDOCTYPEu kdanynth-medi-,umain-bottom uk-grid" data-,udelay:300s="ur class="u
  • No iframli>
  • ss="wrapper" >
    gin-righ1r r classairs %" hd ook uk-mar lots -u lots cheaper.-u < "weq="ukocess indback %" hd ook uk-mar lots -u lots cm/bl fores ="weq="ukocess indback No iframli>
  • ss="wrapper" >
    gin-righ1r r e trs q/tood ook uk-mar lots -u lots cheaper.-u < "Calcu"lig ht5"> No iframli>
  • ss="wrapper" >
    gin-righ1r r e trs "uk-aunkd ook uk-mar lots -u lots cheaper.-u <>Tott10Ct7"/% RecSa"> "uk-aunkd ook uk-mar lots -u lots cm/bl fores ="Tott10Ct7"/% RecSa">