Avanti Real Estate, Inc. Real Property Tax Exemption Amendment Act of 2024

This bill grants a ten-year real property tax exemption to a specific building owned by Avanti Real Estate, Inc. at 3421 14th Street, N.W., provided the property remains occupied by the company and is used for real estate services that create generational wealth and employ District residents. The legislation also forgives any existing taxes, interest, or penalties on the property as of the act's effective date and requires the Mayor to annually certify the building's continued eligibility for the exemption. If the Mayor determines the property no longer meets the required conditions, the tax exemption will end, and the company must pay any outstanding charges.