The bill simplifies the personal property tax in the District of Columbia by adjusting tax rates and thresholds.

The Personal Property Tax Simplification Amendment Act of 2025 modifies the tax rate for tangible personal property owned or held in trust in the District of Columbia. For tax years ending before June 30, 2025, the tax rate is $3.40 for each $100 of value over $225,000. Starting July 1, 2026, the threshold increases to $325,000, with subsequent years adjusting based on the local Consumer Price Index. The bill also updates the D.C. Official Code to reflect these changes and mandates a fiscal impact statement.

The bill simplifies the personal property tax in the District of Columbia by adjusting tax rates and thresholds.

The Personal Property Tax Simplification Amendment Act of 2025 modifies the tax rate for tangible personal property owned or held in trust in the District of Columbia. For tax years ending before June 30, 2025, the tax rate is $3.40 for each $100 of value over $225,000. Starting July 1, 2026, the threshold increases to $325,000, with subsequent years adjusting based on the local Consumer Price Index. The bill also updates the D.C. Official Code to reflect these changes and mandates a fiscal impact statement.