Plain English Breakdown
The official text states the Chief Financial Officer 'may' forgive taxes, meaning it is not automatic and depends on a decision by that office.
Temporary Tax Relief for Avanti Real Estate Services Property
This law allows the Chief Financial Officer to forgive up to $377,000 in property taxes and related charges for a specific building owned by Avanti Real Estate Services, LLC.
What This Bill Does
- Allows the Chief Financial Officer to forgive real estate taxes on Lot 123, Square 2836 at 3421 14th Street NW in Ward 1.
- Cancels up to $377,000 in back taxes, interest, penalties, fees, and other related charges for Fiscal Year 2026 that were assessed as of September 3, 2025.
- Requires the property owner to occupy the building and use it to provide real estate services focused on creating generational wealth through homeownership, employing District residents, and providing job training in the real estate industry.
- 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
- Fiscal Year 2026
- The government budget period for which this tax relief applies.
- Tax Sale
- A process where the government sells a property to collect unpaid taxes, which may be cancelled under this law.
Limits and Unknowns
- The tax relief only applies if Avanti Real Estate Services, LLC occupies and uses the building for specific community purposes.
- This law expires automatically after 225 days from its effective date in February 2026.