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D.C. Code § 47-873

Computation of tax; annual adjustment; limitations — Cooperative housing associations.

Official textus-dc/statcode.dccouncil.govlast amended
Summarize

# (a)

For purposes of computing taxes on real property in the District of Columbia, Class 1A or 1B Property owned by a cooperative housing association shall be allowed a credit against the tax imposed under § 47-811.

# (b)

The credit shall not be allowed for Class 1A or 1B Property owned by a cooperative housing association if the Class 1A or 1B Property:

# (1)

Has 3 or fewer dwelling units; or

# (2)

Receives trash collection services provided by the Mayor other than the collection of recyclable materials provided pursuant to Chapter 10 of Title 8.

# (c)

The credit shall be an amount equal to $60 multiplied by the number of dwelling units that are occupied by the shareholders or members of the cooperative housing association. The credit shall be adjusted annually beginning in the tax year beginning July 1, 1992, and ending June 30, 1993, and in each subsequent tax year, in accordance with subsection (d) of this section.

# (d)

The credit shall be adjusted annually by the addition to the prior tax year credit of an amount equal to the percentage increase in the local Consumer Price Index for all items during the calendar year in which the tax year begins, rounded to the nearest whole dollar.

# (e)

The amount of the credit allowed under this section shall not exceed the amount of property tax otherwise due.

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

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In this chapter (40 sections)
  1. 47-860.02a · Tax abatements for housing in downtown – Exemptions.
  2. 47-861 · Violations.
  3. 47-861.01 · Tax abatements for the redevelopment of vacant and blighted…
  4. 47-861.02 · Tax abatements for the redevelopment of vacant and blighted…
  5. 47-861.03 · Tax abatements for the redevelopment of vacant and blighted…
  6. 47-861.04 · Tax abatements for the redevelopment of vacant and blighted…
  7. 47-862 · Rules and regulations for tax deferral provisions.
  8. 47-863 · Reduced tax liability for property owners over age 65 and for…
  9. 47-864 · Owner-occupant residential tax credit.
  10. 47-864.01 · Owner-occupant residential tax credit (conditional).
  11. 47-865 · Tax abatement for preservation of section 8 housing in…
  12. 47-866 · Tax abatement for improvements to section 8 and other…
  13. 47-867 · Public charter school real property tax rebate.
  14. 47-868 · Reduced tax liability for certain urban farms.
  15. 47-869 · Performing arts venue real property tax rebate.
  16. 47-870 · Central Washington activation projects— temporary tax…
  17. 47-870.01 · Central Washington activation projects— temporary tax…
  18. 47-870.02 · Central Washington activation projects— temporary tax…
  19. 47-871 · Definitions.
  20. 47-872 · Computation of tax; annual adjustment; limitations.
  21. 47-873 · Computation of tax; annual adjustment; limitations —…
  22. 47-874 · Regulations.
  23. 47-875 · Applicability of other provisions to this chapter.
  24. 47-876 · Costs for records and data; miscellaneous charges.
  25. 47-877 · Appeals under this chapter.
  26. 47-881 · Definitions.
  27. 47-882 · Establishment of special assessment district.
  28. 47-883 · Levy of special assessment; protest; termination of levy.
  29. 47-884 · Application of assessment.
  30. 47-885 · Regulations.
  31. 47-891 · Definitions.
  32. 47-892 · Establishment of special assessment district.
  33. 47-893 · Levy of special assessment; protest; termination of levy.
  34. 47-894 · Application of assessment.
  35. 47-895.01 · Definitions.
  36. 47-895.02 · Establishment of special assessment district.
  37. 47-895.03 · Levy of special assessment.
  38. 47-895.04 · Notices and protests.
  39. 47-895.05 · Termination of Special Assessment.
  40. 47-895.06 · Application of Special Assessment.
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