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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 9-3. REAL PROPERTY TAXES |
Section 9-326. DIRECT PAYMENT IN LIEU OF TAXES - LOW AND MODERATE INCOME HOUSING
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326.1Real property providing multi-family rental and cooperative housing (for low and moderate income persons), whose owner is receiving assistance through one or more of the Federal programs specified in D.C. Official Code § 47-1002(20)(A), shall be eligible for exemption from real property taxation if the owner of the real property satisfactorily submits to the Deputy Chief Financial Officer an initial application for exemption and, if the owner is organized for profit, an annual income and expense statement.
326.2To maintain the exempt status of the real property:
(a) A for-profit owner shall submit an annual report under § 324 and an annual income and expense statement by April 1st of each year. The income and expense statement shall reflect the gross income derived from the real property during the latest completed annual accounting period.
(b) A non-profit owner shall submit an annual report under § 324 by April 1st of each year.
326.3The payment in lieu of taxes shall be made on or before September 15th of the preceding tax year.
326.4If the owner of the real property is not organized for profit, no annual income and expense statement or payment shall be required.
326.5If the owner of the real property is organized as a limited dividend or limited profit owner, or a profit owner, a payment in lieu of taxes, in an amount equal to five percent (5%) of the gross income derived from the operation of the building during the latest completed annual accounting period, shall be required.
326.6If the owner of property exempt under D.C. Official Code § 47-1002(20)(A) fails to make the in lieu of taxes payment in the manner prescribed in § 326.5, the property shall be subject to inclusion in the annual tax sale.