The White House, no matter its resident, is priceless real estate. But that hasn’t stopped the District from trying to attach a monetary value to its most famous address.
Though it can’t tax them, D.C.’s Office of Tax and Revenue still assesses properties owned by the District or federal governments, educational institutions, religious organizations and other tax-exempt entities. D.C. code requires it, for all properties across the city, taxable or not.
Are those assessments accurate? “The assessed values of Federal properties represent their estimated market value,” David Umansky, spokesman for the Office of the Chief Financial Officer, said in a statement. “Values are estimated after considering the three valuation methods: cost; income; and, sales. Ultimately, the appraiser narrows in on the approach that gives the most credible opinion of value.”
What if the District could tax federal property, or the campuses of major universities, or cemeteries? How much would it…
Read the full story from the Washington Business Journal.
