How will the District Council Tax Increase Affect You?

The D.C. Council voted last week to create a new 8.95 percent top tax bracket for city residents making more than $350,000. The measure passed seven votes to six. Georgetown's Jack Evans (D-Ward 2) joined David Catania (I-At-Large), Marion Barry (D-Ward 8), Muriel Bowser (D-Ward 4), Vincent Orange (D-At-Large) and D.C. Council Chairman Kwame Brown (D) to vote "no," according to the Huffington Post DC.

The tax hike goes into effect Oct. 1 when the new fiscal year begins.

Between 2005 and 2009, the average family income in 2010 dollars in Georgetown, Burleith and Hillandale was $288,541, according to Neighborhood Info D.C. The median household income for D.C. is $60,903 and 17,178 households have an income greater than $200,000.

Does the tax increase affect you?