Thursday, January 19, 2017

WBJ | D.C. bill proposes big tax break for commercial properties east of the Anacostia

Go HERE to read the full Washington Business Journal article. 

Commercial property owners east of the Anacostia River may see their real estate tax bills slashed almost in half if a new bill introduced by the D.C. Council advances.

Council members Jack Evans, D-Ward 2, Kenyan McDuffie, D-Ward 5, Trayon White, D-Ward 8, and Vincent Gray, D-Ward 7, have co-introduced a bill that would tax commercial properties east of the river at the same rate as residential properties.

Gray, the former D.C. mayor who began a new term as a councilman this month, said lowering the tax rate for Class 2 properties from $1.65 per $100 of assessed value to the residential, Class 1 rate of $0.85 per $100 would boost the economy in Wards 7 and 8, two of the District’s more economically challenged areas.

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