Plain English Breakdown
The official text states the Chief Financial Officer 'may' forgive taxes, meaning it is not automatic.
Avanti Real Estate Services Tax Relief Act of 2025
This law allows the District's Chief Financial Officer to cancel up to $377,000 in property taxes and fees for a specific building owned by Avanti Real Estate Services, LLC.
What This Bill Does
- Authorizes the Chief Financial Officer to forgive real estate taxes on Lot 123, Square 2836 at 3421 14th Street NW.
- Allows cancellation of up to $377,000 in back taxes, interest, penalties, and fees for Fiscal Year 2026.
- Requires the property owner to occupy the building and use it to provide real estate services that help District residents gain home ownership and jobs.
- Orders the cancellation of any tax sales started against this property due to unpaid bills covered by this act.
Who It Names or Affects
- Avanti Real Estate Services, LLC
- The Chief Financial Officer of the District of Columbia
Terms To Know
- Chief Financial Officer
- The official in charge of managing money and taxes for the District government.
- Tax sale
- A process where a property is sold to pay off unpaid tax debts owed by the owner.
Limits and Unknowns
- The relief only applies if Avanti Real Estate Services, LLC occupies and uses the building for specific business purposes.
- This emergency act expires on March 3, 2026, unless extended or replaced by new law.