5981425 ACR 21-190, Schedule H Homeowner and Renter Property Tax Credit Expansion Recognition Resolution of 2016

A CEREMONIAL RESOLUTION

                                                        

21-190

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

April 5, 2016        

 

 

To honor the expansion of the Schedule H Homeowner and Renter Property Tax Credit and celebrate the assistance it has afforded many more District residents.

 

WHEREAS, the Schedule H Homeowner and Renter Property Tax Credit is a critical tool to help low-income residents cope when they face substantial property tax burdens:

 

WHEREAS, Schedule H is especially important to seniors and others with fixed incomes who face increasing property taxes due to rising home values in their neighborhoods;

 

WHEREAS, until 2014, residents could receive Schedule H only if their income was below $20,000;

 

WHEREAS, until 2014, applying for Schedule H was complicated and as a result many residents simply did not apply;

 

WHEREAS, the Council recognized these problems and moved to increase the Schedule H income eligibility to $50,000, to increase the maximum credit from $750 to $1,000, and to make the credit easier to apply for;

 

WHEREAS, these changes showed immediate results, with the number of households claiming Schedule H growing almost three-fold in one year, from 6,400 in 2013 to 17,900 in 2014;

 

WHEREAS, the average Schedule H credit increased from $580 in 2013 to $780 in 2014; and

 

WHEREAS, the total amount of critical property tax assistance provided to District residents grew from $4 million in 2013 to $14 million in 2014.

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Schedule H Homeowner and Renter Property Tax Credit Expansion Recognition Resolution of 2016.”

 

Sec. 2.  The Council of the District of Columbia salutes the Schedule H credit and all who worked towards its successful expansion to help the residents of the District of Columbia.

 

Sec. 3.  The resolution shall take effect immediately upon the first date of publication in the District of Columbia Register.