REAL ESTATE TAXES Mr. CABELL. In your budget projection I believe you are contemplating a 30¢ increase in your real property taxes? Mr. BACK. The Mayor recommended to the Council an increase in the property taxes of 30¢ on the hundred Mr. CABELL. As I recall, the increase was requested two years ago, wasn't it? Nothing was done about it? Mr. WASHINGTON. Yes, sir. Nothing was done in the last year, sir. I requested it again this year of the Council. I am very hopeful that we will be able to get the amount that we requested this year because of the dire needs that we have. 9 MAJOR TAX LIABILITY AS A PERCENT OF INCOME IN Mr. CABELL. At this point, we will include a tabulation which you prepared for us in the last Congress, showing sources of revenue for the District, which we found helpful. (The matter referred to follows:) DISTRICT OF COLUMBIA TAX SOURCES, RATES AND ESTIMATED ANNUAL YIELD (FISCAL 1971) Rates Estimated yield (thousands) Tax sources GENERAL FUND Property taxes: Real estate. Cigarette.. Motor vehicle excise. Public utilities, bank, etc.. 2% on net premium receipts, membership fees, or considerations 4% of fair market value of vehicles at time certificate of title is issued. $118,700 15,600 14, 200 5,600 5,900 6,600 17,000 Rentals of accommodations to transients, all alcoholic beverages, and Source: Government of the District of Columbia, Executive Office, Budget & Management, Sept. 23, 1970. |