When you buy a home in Washington, D.C., in most cases the city collects a recordation tax from the buyer — 1.1% of the purchase price under $400,000 and 1.45% if the price is above $400,000.
This makes up a big portion of the buyer’s closing costs and is paid up front at closing. But it’s possible to get this tax reduced significantly for those who qualify. The D.C. First-Time Home Buyer Recordation Tax Reduction reduces this to just .725% of the purchase price. That’s some BIG savings!
How to qualify for the D.C. First-Time Home Buyer Recordation Tax Reduction:
- Buying your first home in D.C. — This is to encourage new home ownership; you cannot have owned a principal residence in D.C. before.
- The home must be your primary residence w/homestead deduction — No investment properties or second homes. You have to live there.
- Purchase price not to exceed $647,000 — Regardless of what the loan amount is, you have to stay under this price point to qualify.
- Annual household income within limits — For a single individual making no more than $154,000. For a couple, the max income is $174,780.
Want to learn more about this and other ways to save money on your home purchase? Check out our Home Buyer Tips Blog.
Recent Stories
From an email: “Mexico’s famous professional wresting troop, Lucha Libre, will be at Hook Hall Saturday May 4 for Cinco de Mayo weekend performances.
My goodness… Citroen?!? Thanks to Brook for sending yesterday:
Photo by D. Garrett Ed. Note: If this was you, please email [email protected] so I can put you in touch with OP. “Dear PoPville, Friday night (4/26) I was at…
“FOMO from Brookland, getting ready for the cherry blossoms!” If you have any animal/pet photos you’d like to share please send an email to princeofpetworth(at)gmail(dot)com with ‘Animal Fix’ in the…
Good news, D.C. area. You can save money on your next home cleaning with Well-Paid Maids. It’s easy!
We offer a discount when you set up recurring cleans — and the discounts just increased this week!
For weekly cleans, get $30 off each cleaning.
Potomac Harmony is Back! Following a gap year of competing, then virtual rehearsals during the pandemic, followed by the well-earned retirement of our long-term director, a year of a director search, Potomac Harmony hit the regional contest stage in Concord, North Carolina in March for the first time since 2018! It was exhilarating, reaffirming, and rewarding!
The chorus hit all of its goals, the biggest of which was to have fun and sing our best on contest stage — we did both! Because we earned a score over 400 points, our new Director, Allison Lynskey, was awarded the Novice Director award, photo above. Additionally, one of our charter members, Jackie Bottash, was nominated for and honored with the Leadership Excellence award. It was a celebratory weekend!
What’s next? So much! We now look forward to upcoming performances, growing our membership, and expanding our musical product with new arrangements and an education component each week. It’s an exciting time to be part of this ever-growing ensemble!
St Mary Armenian Church Annual Spring Food Festival
Come hungry and leave happy! Experience culture, community, and cuisine all in one place. See you at the festival!!!!
Comedy Cabaret
Kick up your heels at Bad Medicine’s COMEDY CABARET extravaganza at the DC Improv Comedy Club on Tuesday, May 21st. Revel in the sights and sounds of this entertaining musical revue, with songs, dance and sketch comedy that will have
