Mapping DC's Proposed Mansion Tax

• May 31st 2024

by UrbanTurf Staff

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The DC Policy Center has mapped the DC neighborhoods that would most be affected by a proposed "mansion tax" for the city. 

Earlier this week, as part of his 2025 budget proposal, DC Council Chair Phil Mendelson included a plan to raise taxes on homes in the city valued at more than $2.5 million. Specifically, the tax would be $1 for every $100 of assessed property value above $2.5 million. Usable and occupied residential properties in DC are taxed at a rate of $0.85 per $100 of the assessed value.

On Friday, the DC Policy Center put out a chart looking at the neighborhoods that have the highest volume of homes affected by the new tax.

"Georgetown is home to the most properties assessed above $2.5 million, at 515 properties, or 20 percent of its total properties," the post stated "Of all neighborhoods in the District, Massachusetts Avenue Heights has the highest percentage of properties assessed above $2.5 million, with 50.7 percent of all properties in the neighborhood falling into that category. Over 50 percent of the estimated increase in tax revenue will come from three neighborhoods: Georgetown, Kalorama, and Massachusetts Avenue Heights."

Other neighborhoods with a high proportion of homes that would be taxed include Spring Valley, Kent, Palisades and Chevy Chase. 

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/mapping_dcs_proposed_mansion_tax/22375.