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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 10. PLANNING AND DEVELOPMENT |
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SubTilte 10-B. PLANNING AND DEVELOPMENT |
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Chapter 10-B62. NOMA TAX ABATEMENTS FOR NEW RESIDENT DEVELOPMENT PROGRAM |
Section 10-B6203. TAX ABATEMENTS FOR ALL HOUSING PROJECTS IN NOMA AREA
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B6203.1Subject to the requirements of section B6202 of this chapter, an annual abatement of the real property tax imposed pursuant to D.C. Official Code § 47-811 for an eligible property shall be allowed in an amount computed as one dollar and fifty cents ($1.50) multiplied by the building’s total residential FAR square footage as certified by the project architect and DMPED pursuant to subsection B6202.15 of this chapter; provided, that:
(a) If a certificate of occupancy permits the use of only part of the residential portion of the eligible property, the amount of the abatement shall be computed as one dollar and fifty cents ($1.50) per each residential FAR square foot that is subject to the certificate of occupancy.
(b)The tax abatement for an eligible real property allowed by this section shall expire at the end of the tenth (10th) tax year after the abatement was first reflected in a real property tax bill issued pursuant to section B6202.14 of this chapter; and
(c)If, during a tax year for which the tax abatement is authorized by this section the property for which the abatement was granted contains fewer than ten (10) dwelling units, the abatement shall not be allowed, such disallowance to become effective during the first six (6) month period following the date on which such property first contained less than ten (10) dwelling units.