There will be no surprise taxes sprung on unsuspecting residents. For example, last year the Council applied taxes on homeowners' security home protection systems, which should otherwise serve as a deduction towards our homeowners insurance premiums.
D.C. Property Tax Assessment Rates, Artificially Inflated over Several Years - Must Be Adjusted To Average Rate accumulations during the Financial Control Board years.
During Ms. Alice Rivlin's Financial Control Board's occupancy of the D.C. Finance Department, residents' property assessments were increased over several years to erase the budget deficit and to take the District out of receivership. D.C. residents incurred property rate increases from 30% to as much as 50% in one year.
Once the deficit was satisfied, the District in four succeeding years amassed a surplus of $1.5 billion dollars. After D.C. homeowners paid off the city's budget deficit the Council should have placed a moratorium on property assessments to allow for the Control Board's annual inflated rate accumulations to shrink to the annual average assessment rate accumulation of taxes that would have been collected during the same number of years of the Control Board's control.
If the District's average annual property assessment rate is 10% per year and the inflated property assessment rate paid by homeowners was a 30% increase in the Control Board Year 1 - then for two future years the property assessment rates must be forfeited by the average 10% annual rate increase. Residents paid in the Control Board Year 1 - two additional years of the average property assessment rate increase of 10%.