D.C. Code § 47-858.04

Tax abatements for homeowners in enterprise zones — Tax credit for substantial rehabilitation of single-family residential property in an enterprise zone.

Official textus-dc/statcode.dccouncil.gov

# (a)

Subject to § 47-858.02 and subsection (b) of this section, if an eligible owner of a single family residential property in an enterprise zone substantially rehabilitates the property after the effective date of this section [April 19, 2002] and before October 1, 2007, the real property tax imposed by § 47-811 shall, for the tax year in which the substantial rehabilitation is completed, be reduced $50 for each $1,000 of expended on the substantial rehabilitation; provided:

# (1)

The owner is subject to the income tax imposed by § 47-1806.03;

# (2)

The improvements are completed after October 1, 2002;

# (3)

The owner completes the substantial rehabilitation of the property for which the reduction is granted within 36 months after receiving the approval of the Mayor under § 47-858.02;

# (4)

The reduction in the tax imposed by § 47-1806.03 shall not exceed $5,000.

# (b)

The amount of the reduction allowed during a tax year under this section shall not exceed 50% of the real property tax that was imposed on the real property by § 47-811 during the prior tax year. If the amount of the reduction exceeds 50% of the tax imposed during the prior tax year, the unused amount of the reduction may be carried forward for 5 tax years

# (c)

The Mayor may approve up to $1 million in tax credits under § 47-858.04.

Source: official DC Code section page (code.dccouncil.gov)

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