Reply to Vent: people who take the DC Homestead Deduction on properities they don't live in

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Reply to "Vent: people who take the DC Homestead Deduction on properities they don't live in"

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[quote=Anonymous]So this is an incredibly common practice in DC but it still makes me mad. So many people take the DC Homestead Deduction on properties they do not live in (which is a requirement of the deduction). It's dumb because you actually have to affirmatively tell DC if you move out of a home and start renting it out, and most people just don't bother, so they keep getting the deduction.

It's impossible to say how much lost tax revenue this accounts for in DC, but it's likely not an insignificant sum. And it's just frustrating to see that money going to landlords instead of to the city. Lord knows the city could use it, especially now with revenues down so much due to Covid. And at the same time, landlords have seen massive increases in the value of their properties in the city. It's really gross.

Anyway, if you own a rental property in the district and (illegally!) take the Homestead deduction, you should contact the tax assessor and have it removed because you are stealing money from the city.

/end rant[/quote]

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