NEWS RELEASE FOR IMMEDIATE RELEASE March 11, 2004 OTR Sends Corrected 2004 Real Property Tax Bills to More than 700 Property Owners (Washington, DC) The Real Property Administration of the Office of Tax and Revenue (OTR) has identified 738 real property accounts that did not receive the benefit of the 12 percent assessment cap credit on the first half 2004 property tax bills. This problem was the result of a computer error. Corrected 2004 first half real property tax bills, with an extended due date of April 26, 2004, have been sent for these accounts. The 12 percent assessment cap credit limits the amount of increase of real property taxes for eligible homeowners. The assessment cap credit provides that a real property tax bill will not increase by more than 12 percent above the prior year's real property tax bill. This credit does not change the assessed value of the property on the tax rolls or the assessment notices, but it does appear as an automatic credit on real property tax bills. The credit only applies to the principal residence of the property owner (the property receiving the homestead benefit) and is based on the total assessment for the dwelling and land associated with the dwelling. Properties Receiving Corrected Bills: In Square/Suffix/Lot Order* In Address Order* * This document is presented in Portable Document Format (PDF) and a PDF reader is required for viewing. Download a PDF reader or learn more about PDFs.