Home | Newsletter | Advertise

7,500 DC Residents Pre-Paid $50 Million in Property Taxes for 2018

  • January 3rd 2018

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

There was a frantic push at the end of 2017 by some DC residents to pre-pay their property taxes for 2018, in light of the recently-passed tax bill. Now, we know just how many property owners did just that.

7,500 property owners in the city paid approximately $50 million in property taxes for 2018 before the end of last year, DC’s Chief Financial Officer reported Wednesday afternoon. In comparison, 13,000 property owners in Fairfax County pre-paid approximately $93 million in taxes. In Montgomery County, property owners lined up for upwards of 45 minutes at the end of the year to pre-pay taxes.

The far-reaching tax bill that passed in December caps the state and local taxes that individuals can deduct on their federal returns at $10,000. On December 28, DC’s CFO sent out guidance as to how DC residents could pre-pay taxes and it appears that many took advantage.

See other articles related to: dc property taxes

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/7500_residents_a_look_at_how_many_dc_residents_pre-paid_property/13409.

Pipeline: New Condos & Apartments Coming to the DC Area

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse