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District of Columbia Tax Assessments Indicate a Steady Real Estate Market

Tuesday, March 3, 2020

The Office of Tax and Revenue (OTR) announced today that it is mailing Tax Year (TY) 2021 assessment notices to all real property owners in the District of Columbia. More than 200,000 taxable and exempt real properties have been reassessed to reflect their fair market value as of January 1, 2020. This is NOT a tax bill. Property owners receiving new assessment notices will not be taxed on the new assessed value until March 2021.

The reassessments indicate that the District’s real estate market maintains a moderate, but steady value increase of residential and commercial properties. The proposed TY 2021 assessment average increase in single-family residential properties (Class 1) is 3.46 percent. The commercial (Class 2) properties proposed assessment increased by 3.92 percent. Overall, the District of Columbia taxable properties increased by 3.55 percent from TY 2020 to TY 2021.

The TY 2021 real property assessment notice contains the proposed assessed value of a property, as well as the estimated taxable assessment and essential information related to property tax relief programs such as the homestead benefit and senior citizen tax relief. Also, included on the notice is the assigned appraiser’s contact information for taxpayers who wish to discuss their assessment.

District property owners who believe their proposed TY 2021 assessment does not reflect the market value of their property are encouraged to file an appeal on or before April 1, 2020. The appeal process begins when a property owner submits a First Level Appeal Application to OTR. Property owners can appeal their assessment online by visiting otr.cfo.dc.gov under the “Real Property” tab.