Tax Relief and Tax Credits Lower Income Home Ownership Tax Abatement Eligible homeowners, including non-profit organizations and shared equity investors, may receive a five-year tax abatement and be exempt from paying recordation and transfer taxes. The five-year period for the Lower Income Home Ownership Tax Abatement begins on October 1, after your deed has been recorded and you have previously applied for the abatement. To qualify, you must meet the following conditions: The property must be owner-occupied; The owner must meet the income level requirement; and The property must be less than $320,000 in value If you qualify, submit a Lower Income/Shared Equity Home Ownership Exemption Application and Claim for Exemption from Real Property Recordation and Transfer Tax when you record your deed. These forms can be found in the Recorder of Deeds Forms Center. For more information, call the Recorder of Deeds at (202) 727-5374.