- Associated Press - Tuesday, March 25, 2014

WASHINGTON (AP) - District of Columbia Mayor Vincent Gray has signed a bill that exempts certain longtime city residents from paying property taxes.

Once it takes effect, the new law will apply to people who are at least 70 years old, have owned a home in the city for 20 years are longer and make less than $60,000 annually. People who meet those criteria won’t have to pay property taxes as long as they live in their homes.

Gray says the law will allow senior citizens to remain in their homes longer and prevent them from being priced out of the city.

Gray is seeking a second term in next week’s Democratic primary. The bill was initially drafted by D.C. Councilmember Anita Bonds, who is also seeking re-election.

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