Assessments Coming. Property Tax Bllls to Follow.

Here's What the CFO released on the continuing climbing assessments in DC..More to come on this and a projected near 100 million dollar projected deficit.


DISTRICT'S REAL PROPERTY ASSESSMENTS CONTINUE TO REFLECT
A NORMAL REAL ESTATE MARKET


(Washington, D.C.) The Office of Tax and Revenue (OTR) will mail Tax Year 2009 assessment notices tomorrow to all real property owners in the District of Columbia. A total of 190,000 taxable and exempt real properties have been reassessed to reflect market values as of January 1, 2008. Property owners receiving new assessment notices will not be taxed on the new assessed value until March 2009.



"The District's real estate market has slowed compared to the growth of recent years," said Stephen M. Cordi, deputy chief financial officer for the Office of Tax and Revenue. "The Tax Year 2009 base for residential and commercial properties increased by 7.54 percent compared to 14.31 percent in Tax Year 2008."



The Tax Year 2009 real property assessment notice contains the proposed assessed value, as well as the estimated taxable assessment and important information related to property tax relief programs such as the homestead benefit and the owner-occupied residential tax credit. In addition, included on the notice is the assigned OTR appraiser's contact information for the taxpayer who wishes to discuss his or her property's assessment.



District property owners who believe their proposed Tax Year 2009 assessments do not reflect the market values of their properties must file an appeal on or before April 1, 2008.



Information about the appeal process and the assessment appeal application is available on our Web site at www.taxpayerservicecenter.com under "Real Property Service Center." Appeal applications are also available at libraries and fire stations throughout the District.



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