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Palisades : Real Estate Advice

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  • Local Info3
  • Home Buying3
  • Home Selling0
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Activity 7
Fri Dec 27, 2013
Matthew Allen answered:
Let me know if you still need help with this, I just finished a deal in Palisades.

Matt
0 votes 4 answers Share Flag
Sat Jun 2, 2012
Aklile H. Mariam answered:
Hello Ednira:

5020 CATHEDRAL AVE NW, WASHINGTON, DC 20016-2646 (1439//0968) shows with the owner name. However, with Tax ID #: 1439//0967 with the same address does not show in the public record.

For further explanation, please inbox me.

Aklile H. Mariam
e-PRO REALTOR®
Licensed in Washington, D.C., Maryland and Virginia
Long & Foster Real Estate, Inc., CAPITOL HILL OFFICE
721 D Street SE, Washington, DC 20003
View my profile: http://www.youtube.com/watch?v=slkJ2qlGdcY
Cell: (202) 352-8154 Office: (202) 547-9200 ext. 3025
Fax: (202) 547-9783 Email : info@CapitolHillAgent.com
Web Address: http://www.CapitolHillAgent.com
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Thu Dec 24, 2009
Aaron Smith answered:
Hey Ben,

The link in the earlier email will give you the lowdown, but it helps if you are kinda familiar to start with

Basically, for all properties, the first thing that happens is a value of the property is determined. The government calls this the 'assessed value'. DC has tax assessors who try to judge the market value of a property based upon its location, size, condition, and usage. This assessment is normally composed of two sub-values.; the land itself, and the 'improvements', i.e., home, business, garage, water, sewage, sidewalk, etc that have been made to it. <NOTE: a landowner can appeal the assessed value, if they feel it is incorrect>

Secondly, a tax rate is figured, based upon its usage. Commercial Properties are taxed differently than Residential, Multi-Units different from either of those, and lots again in a different fashion and rate. In addition, in DC, until recently, abandoned or negligent properties were give a much higher rate to encourage repair or sale. In addition, I believe there are other tax benefits due to the elderly and disabled.

Lastly, deductions are taken. A person's home receives a 'Homestead Deduction', an amount subtracted from the assessment before taxes are calculated.

These are the yearly property taxes, which are paid semi-annually, i.e., one half is paid every 6 months. There are also recordation and transfer taxes at the time of sale which total 2%-2.9% of the Sales Price of the property.

Now you know enough to make sense of the Website!

Good Hunting!

Cheerios,
... more
1 vote 2 answers Share Flag
Mon Aug 31, 2009
Kanchan asked:
people did not care about quality of life in past why
0 votes 0 Answers Share Flag
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