The Park 7 Affordable Housing Preservation Tax Abatement Amendment Act of 2026 modifies the tax abatement for affordable housing in the District of.
The Park 7 Affordable Housing Preservation Tax Abatement Amendment Act of 2026 amends the tax abatement for affordable housing in the District of Columbia. It requires property owners to make qualifying capital expenditures for capital improvements and maintain affordability restrictions. The Mayor must certify the property's eligibility for the abatement annually, which is limited to $230,000 or the amount of real property taxes assessed, whichever is less. The abatement period lasts for seven consecutive tax years.
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