COUNCIL OF THE DISTRICT OF COLUMBIA OFFICE OF COUNCILMEMBER ANITA BONDS FOR IMMEDIATE RELEASE March 25, 2014 Contact: David Meadows (202) 724-8143 ANITA BONDS SENIOR PROPERTY TAX EXEMPTION BILL SIGNED INTO LAW BY MAYOR At the John A. Wilson Building today, Mayor Vincent Gray signed the Senior Citizen Real Property Tax Relief Act of 2014. The bill, authored by At-Large Councilmember Anita Bonds, will exempt long-standing residents from property taxes on their primary residence.
To qualify, residents must be 70 years of age and older, have maintained DC residency for at least 20 years, have a household adjusted gross income of less than $60,000, and earn household interest and dividends of less than $12,500; this provision ensures that recepients do not own more than $250,000 in assets.
At the ceremony, the Mayor stated:
"You know, a lot of times we think about affordability as being 'what is the cost of a particular residence…the rental cost or the cost of purchasing.' But there are lots of ways to come at affordability…and one of those ways is to reduce the property taxes."
Councilmember Bonds added:
"It is about affordability; it is about having the opportunity to stay in the community that you love, a community that you know most about…The District of Columbia embraces diversity of income, as well as people from all walks of life."
In the 2014 State of the District Address on March 11, the Mayor stated that this program will be funded in full by the budget he presents to the Council later this year. The exemption goes into effect on October 1, 2014.
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