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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 9. TAXATION AND ASSESSMENTS |
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Chapter 9-2. INHERITANCE AND ESTATE TAXES |
Section 9-202. VALUATION
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202.1The taxable value of any estate for years shall be determined by multiplying five percent (5%) of the market value of the property from which the estate accrues by the figure shown in the table in § 202.3 opposite the number of years for which the estate is fixed.
202.2The taxable value of a fixed annuity shall be determined by multiplying the aggregate fixed sum or sums to be received each year by the figure shown in the table in § 202.3 opposite the fixed number of years during which the annuity is to run.
202.3FIXED ANNUITY TABLE (5%): Present worth of an annuity of one dollar ($ 1) payable at the end of each year for a certain number of years:
Years
Years
Years
Years
1
$ 0.9524
21
$ 12.8212
41
$ 17.2944
61
$ 18.9803
2
1.8594
22
13.1630
42
17.4232
62
19.0288
3
2.7232
23
13.4886
43
17.5459
63
19.0751
4
3.5460
24
13.7986
44
17.6628
64
19.1191
5
4.3295
25
14.0939
45
17.7741
65
19.1611
6
5.0757
26
14.3752
46
17.8801
66
19.2010
7
5.7864
27
14.6430
47
17.9810
67
19.2391
8
6.4632
28
14.8981
48
18.0772
68
19.2753
9
7.1078
29
15.1411
49
18.1687
69
19.3098
10
7.7217
30
15.3725
50
18.2559
70
19.3427
11
8.3064
31
15.5928
51
18.3390
71
19.3740
12
8.8633
32
15.8027
52
18.4181
72
19.4038
13
9.3936
33
16.0025
53
18.4934
73
19.4322
14
9.8986
34
16.1929
54
18.5651
74
19.4592
15
10.3797
35
16.3742
55
18.6335
75
19.4850
16
10.8378
36
16.5469
56
18.6985
76
19.5095
17
11.2741
37
16.7113
57
18.7605
77
19.5329
18
11.6896
38
16.7113
58
18.8195
78
19.5551
19
12.0853
39
17.0170
59
18.8758
79
19.5863
20
12.4622
40
17.1591
60
18.9293
80
19.5965
202.4The taxable value of life interest in any property shall be determined by multiplying five percent (5%) of the market value of the property (as of date of death of decedent) from which the life interest is to accrue, by the figure shown opposite the age of the beneficiary in the American Experience Table of Mortality in § 202.6.
202.5The taxable value of an annuity for life shall be multiplied by the appropriate figure in the same table, instead of five percent (5%) of the value of the property from which the annuity accrues. If payments under an annuity are to be made more often than once each year, the aggregate of those payments per year shall be considered the annuity payment for purposes of determining the taxable value.
202.6ANNUITY VALUATION TABLE BASED ON AMERICAN EXPERIENCE TABLE OF MORTALITY (WITH INTEREST AT 5%): Annuity or present value of one dollar ($ 1) due at the end of each year during the life of a person of specified age:
Age
Age
Age
0
$ 12.818
32
$ 14.85666
64
$ 7.75900
1
14.922
33
14.73492
65
7.45885
2
15.731
34
14.60774
66
7.15921
3
16.125
35
14.47479
67
6.86074
4
16.346
36
14.33572
68
6.56420
5
16.472
37
14.19057
69
6.27048
6
16.535
38
14.03897
70
5.98022
7
16.561
39
13.88092
71
5.69422
8
16.560
40
13.71604
72
5.41286
9
16.540
41
13.54430
73
5.13592
10
16.50475
42
13.36528
74
4.86279
11
16.46076
43
13.17891
75
4.59264
12
16.41469
44
12.98494
76
4.32477
13
16.36642
45
12.78344
77
4.05856
14
16.31581
46
12.57414
78
3.79392
15
16.26274
47
12.35728
79
3.53109
16
16.20722
48
12.13275
80
3.27017
17
16.14986
49
11.90076
81
3.01349
18
16.08779
50
11.66175
82
2.76062
19
16.02372
51
11.41594
83
2.51052
20
15.95658
52
11.16361
84
2.26066
21
15.88620
53
10.90499
85
2.00986
22
15.81257
54
10.64036
86
1.76061
23
15.73552
55
10.37017
87
1.51750
24
15.65484
56
10.09472
88
1.28611
25
15.57033
57
9.81450
89
1.06704
26
15.48176
58
9.52988
90
0.85453
27
15.38910
59
9.24127
91
0.64497
28
15.29210
60
8.94928
92
0.44851
29
15.19051
61
8.65445
93
0.28761
30
15.08425
62
8.35742
94
0.13605
31
14.97307
63
8.05876
202.7The age of the beneficiary to be used is the age on the birthday of the beneficiary nearest the date of the death of the decedent.
202.8In determining the value of any estate for life limited upon a precedent estate for life or a term of years, the value of the precedent life interest or a term of years shall be deducted, except where the time for payment of the tax is postponed under the provisions of § 7 of Article 1 of the Act.
202.9Where an estate for life, or for years, can be divested by the act or omission of any legatee or devisee, it shall be taxed as if there were no possibility of such divesting.
202.10In determining the value of the share or interest of a beneficiary in any estate where the beneficiary is presently in possession or enjoyment of the share or interest, no allowance shall be made on account of any contingent encumbrance nor for any contingency upon the happening of which the estate of property or some part of it or interest in it might be abridged, defeated, or diminished.
202.11Income accrued but not collected at the time of the death of the decedent is subject to the tax and is to be included in the valuation of the property.