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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 9-5. TAX ON RECORDATION OF DEEDS |
Section 9-500. GENERAL PROVISIONS
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500.1The provisions of this chapter are adopted under authority of § 317 of the District of Columbia Real Estate Deed Recordation Tax Act of 1962, Pub. L. 87-408 (also referred to in this chapter as the “Act”), as amended (D.C. Official Code § 42-1117 (2001 ed.)).
500.2For the purposes of this chapter, the words, terms, and phrases defined in the Act shall have the same meanings when used in this chapter, unless otherwise required by the context of this chapter.
500.3When used in this chapter, the term "Deputy Chief Financial Officer" shall mean the Deputy Chief Financial Officer of the Office of Tax and Revenue ("Office"), or the Deputy Chief Financial Officer's lawfully appointed agent, representative, or designee.
500.4When used in this chapter, the term "Recorder of Deeds" shall mean the Recorder of Deeds of the District of Columbia, or his or her lawfully appointed agent, representative, or designee.
500.5For the purposes of the Act, the term "parent" means an individual who is the natural parent of a child or an individual who has legally adopted a child. The term "child" includes both minor and adult children.
500.6For the purposes of the Act, the term "new real estate construction" means the development or improvement of a structure located upon or attached to land, including any improvement, restoration, addition to, or rehabilitation of any existing structure, if the value of the improvement, restoration, addition, or rehabilitation exceeds fifty percent (50%) of the assessed value of any structure existing prior to the improvement, restoration, addition, or rehabilitation.
500.7The provisions of §§ 515 through 526 are adopted under § 2(c)(3) of the District of Columbia Recordation of Economic Interests in Real Property Tax Amendment Act of 1989 (hereinafter referred to as the "Recordation of Economic Interests Act)."
500.8 For purposes of the Recordation of Economic Interests Act, the phrase “Holds real property” means the ownership by, or lease or ground rent for a term (with renewals) of at least thirty (30) years to, a corporation, partnership, association, trust or other entity of real property located in the District of Columbia.
500.9For purposes of the Act, the term “refinance” does not include the issuance of a new series of bonds secured by an indenture that also secures previously issued bonds.