Councilmember David A. Catania - Catania Property Tax Cap Clears Hurdle

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January 6, 2009
09:11 pm
33° F
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Catania Property Tax Cap Clears Hurdle

WASHINGTON, D.C. - The Finance and Revenue Committee gave unanimous final approval to Bill 15-303, the Owner-Occupant Residential Tax Credit Act of 2003. Introduced by Councilmembers David Catania (At-Large) and Jack Evans (Ward 2), this measure reduces the maximum annual property tax increase a homeowner must pay from 25% to 10%.

Catania said, "Real property taxes have increased 50 percent since fiscal year 2000 and $200 million since fiscal year 2002. My colleagues and I believe that tax relief to homeowners is long overdue."

Presently, a 25% cap applies to the amount of increased real property taxes a homeowner pays each year. The legislation approved today by a vote of 4-0 would replace the 25% cap with a 10% cap on the amount of increased taxes a homeowner must pay.

For more information regarding his actions, contact the Office of Councilmember Catania at 202-724-7772. The Finance and Revenue Committee may be reached by calling 202-727-8206.

[NOTE: Copies of Bill 15-303, the "Owner-Occupant Residential Tax Credit Act of 2003" can be obtained by contacting the Legislative Services office at 202.724.8050 or by visiting our Web site at http://www.dccouncil.washington.dc.us/lims/BillRecord.asp?billid=checked.doc.