Budget & Taxes (Seniors)

This bill (B 26-0532) allows District seniors aged 65+ who own their primary residence to transfer their existing property tax cap credit to a new home purchased within 12 months. It directly affects seniors moving to a new primary residence, preventing steep tax increases they currently face when selling their capped-property home. Key provisions include: (1) transferring the tax credit value percentage-for-percentage to the new home, and (2) permitting seniors to combine ownership shares across multiple family members to meet the 50% ownership requirement. This change aims to make housing transitions more affordable for seniors needing to downsize, relocate for health reasons, or move to safer, more accessible homes.