DC Vacant Property Tax Update

Last week, the DC Council met for the last time before the summer recess and reduced the vacant property tax back to $5 per $100 of assessed value.

Washington Business Journal wrote an article about all the changes enacted by the council in order to fill the budget gaps.

The increase that the DC Council passed earlier last year (from $5 to $10 per $100 of assessed value) clearly back fired. Vacant property owners were furious and there was a lot of public discussion about the increase.

As I mentioned in previous posts, the increase had affected two of my deals and it wasn't pretty. As everything with DC Gov, both situations became long, drawn out affairs. Both situations were rectified but it was a pain.

I'm glad to see that the Council listened to it's consituents!

PS-Craigs List FINALLY took down the fraudulant post. What a mess. I had a couple of calls from people that actually called the number in Nigeria! (I bet their cell phone bill is going to be outrageous.)


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