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  • Axios DC

    Map: Neighborhoods most affected by D.C.'s "mansion tax"

    By Cuneyt Dil,


    Georgetown will pay the most under D.C.'s new " mansion tax ," which increases the property tax rate on homes above $2.5 million.

    The big picture: Revenue from the new tax, which got final approval from the D.C. Council last week, will essentially "be driven by a small subset of neighborhoods, primarily in the Northwest," the D.C. Policy Center wrote .

    By the numbers: The increase will give the District $5.7 million in additional revenue in fiscal year 2025, according to the D.C. Policy Center.

    • While that's a drop in the bucket in a $21 billion budget , it still helps when other revenues are declining.

    How it works: The tax rate would increase from $0.85 to $1 per $100 of assessed value over $2.5 million. (The rate would still be $0.85 for the first $2.5 million of the assessment.)

    Zoom out: Georgetown has 515 properties that fit that bill, more than any other neighborhood.

    • Kalorama — with the likes of Jeff Bezos — has 245 homes.
    • Berkley has 179 homes, while Cleveland Park and Spring Valley are tied with 174 properties.
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