(Washington, DC) – Today, Mayor Muriel Bowser highlighted her Fiscal Year 2020 budget proposal’s “Keep Housing Affordable Tax Credit,” which would increase and expand the refundable Schedule H tax credit for DC homeowners and renters. The Mayor also urged DC taxpayers to take advantage of free tax preparation sites across the District and to claim the existing Schedule H tax credit, which assists low- and moderate-income residents who face high property taxes or rents compared with their income, particularly seniors.
“This budget is very focused on finding new ways to make DC affordable for more Washingtonians – especially our seniors and families who are feeling a financial pinch. The expansion of the Keep Housing Affordable Tax Credit is one more way we can help residents afford to stay in the city they know and love,” said Mayor Bowser. “Today, we’re urging all Washingtonians to make sure they’re doing all they can to put money back in their pockets – by claiming the all the local and federal credits they’re eligible for and by taking advantage of the free tax preparation sites across DC.”
Mayor Bowser spoke at the United Planning Organization “Petey” Greene Community Service Center, one of several Volunteer Income Tax Assistance (VITA) sites around the city that provide low- and moderate-income residents with free tax preparation services. The AARP Legal Counsel for the Elderly operates the UPO site, which will stay open until 9:00 p.m. this evening. Residents should visit the IRS’ VITA page to locate a nearby free tax preparation site and find out what documents and identification to bring.
Mayor Bowser’s Fiscal Year 2020 budget proposal includes $5.2 million to expand the Schedule H tax credit for both homeowners and renters. The $5.2 million investment would increase the maximum credit to $1,200 and raise the income ceiling for those eligible, expanding eligibility to approximately 3,000 new people.
The Mayor’s proposal would:
- Increase the maximum tax credit to $1,200
- Increase the income ceiling thresholds for residents under age 70 to $65,000
- Increase the income ceiling thresholds for residents age 70 and older to $80,000
Mayor Bowser was joined at today’s announcement by Ms. Carolyn Matthews, a Ward 1 resident and Vice Chair on the Commission on Aging, Polly Donaldson, Director of the DC Department of Housing and Community Development, Stephen Taylor, Commissioner of the Department of Insurance, Securities and Banking, and Joseph Leitmann-Santa Cruz, Acting Executive Director, Capital Area Asset Builders.
Learn more about the Mayor’s Fiscal Year 2020 budget proposal at mayor.dc.gov/2020budget.