Source: https://development.code.dccouncil.us/dc/council/code/sections/47-850.01.html
Timestamp: 2019-04-20 04:44:27+00:00

Document:
D.C. Law Library - § 47–850.01. Residential property tax relief — Homestead deduction for cooperative housing associations.
↪ § 47–850.01. Residential property tax relief — Homestead deduction for cooperative housing associations.
(a) For purposes of levying the real property tax during a tax year, the Mayor shall deduct from the assessed value of the real property owned by a cooperative housing association, as determined under § 47-820.01, $67,500, increased annually, beginning October 1, 2012, by the cost-of-living adjustment (if the adjustment does not result in a multiple of $50, rounded to the next lowest multiple of $50), for each homestead located therein. The deduction shall be apportioned equally between each installment during a tax year and shall not be carried forward or carried back.
(b) The cooperative housing association shall only receive a deduction for one homestead of a shareholder or member, even though he or she may occupy more than one dwelling unit. The cooperative housing association shall not receive a deduction for a homestead if the basis of the deduction is another person in the household of the shareholder or member. Only one person in the household of the shareholder or member shall be entitled to claim a homestead in the District.
(c) In order for the cooperative housing association to qualify a dwelling unit as a homestead and receive the deduction, the shareholder or member shall complete and file with the Mayor an application in a form prescribed by the Mayor. The shareholder or member shall certify, under penalty of perjury, the information provided on the application form and the application form shall be filed in the manner prescribed by the Mayor. The Mayor may require the shareholder or member to submit any information which the Mayor considers necessary, including the taxpayer identification numbers of the shareholder or member, any other person with an ownership or membership interest, and any person in the household of the shareholder or member. The Mayor may also require the shareholder or member, any other person with an ownership or membership interest, and any person in the household of the shareholder or member to submit information after the homestead has been qualified to determine whether the cooperative housing association remains entitled to the deduction for the homestead for the dwelling unit.
(d) The Mayor may require the officers or managers of the cooperative housing association to distribute the application forms to its shareholders or members and to collect the completed application forms from such shareholders or members for return to the Mayor. Officers and managers of a cooperative housing association shall supply such other information as the Mayor may require.
(e) If a properly completed and approved application is filed during the period October 1 through March 31 of the tax year, the cooperative housing association shall receive the deduction for the entire tax year. Notwithstanding subsection (a) of this section, if a properly completed and approved application is filed during the period April 1 through September 30 the cooperative housing association shall receive 1/2 of the deduction for the second installment only.
This section is referenced in § 47-802, § 47-820, § 47-850.02, § 47-850.03, § 47-863, § 47-864, § 47-1806.09, § 47-1806.09a, and § 47-3503.
D.C. Law 16-33 substituted “$60,000” for “$38,000”.
D.C. Law 16-98, in subsec. (a)(1), substituted “$63,000, increased annually, beginning October 1, 2007, by the cost-of-living adjustment (if the adjustment does not result in a multiple of $50, rounded to the next lowest multiple of $50),” for “$60,000”.
D.C. Law 17-20, in subsec. (a)(1), substituted “$64,000, increased annually, beginning October 1, 2008, by the cost-of-living adjustment (if the adjustment does not result in a multiple of $50, rounded to the next lowest multiple of $50),” for “$60,000”.
D.C. Law 18-111 rewrote subsec. (a).
For temporary (90 day) amendment of section, see § 2(d) of Owner-Occupant Residential Tax Credit and Homestead Deduction Clarification Emergency Act of 2004 (D.C. Act 15-374, February 24, 2004, 51 DCR 2618).
For temporary (90 day) amendment of section, see § 1162(d) of Fiscal Year 2005 Budget Support Emergency Act of 2004 (D.C. Act 15-486, August 2, 2004, 51 DCR 8236).
For temporary (90 day) amendment of section, see § 1162(d) of Fiscal Year 2005 Budget Support Congressional Review Emergency Act of 2004 (D.C. Act 15-594, October 26, 2004, 51 DCR 11725).
For temporary (90 day) amendment of section, see §§ 1082(b), 1083 of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).
For temporary (90 day) amendment of section, see § 1032(c) of Fiscal Year 2008 Budget Support Emergency Act of 2007 (D.C. Act 17-74, July 25, 2007, 54 DCR 7549).
For temporary (90 day) amendment of section, see § 7111(b) of Fiscal Year 2010 Budget Support Emergency Act of 2009 (D.C. Act 18-187, August 26, 2009, 56 DCR 7374).
For temporary (90 day) amendment of section, see § 7241(b) of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
For temporary (90 day) amendment of section, see § 7241(b) of Fiscal Year Budget Support Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-260, January 4, 2010, 57 DCR 345).
For temporary (225 day) amendment of section, see § 2(d) of Owner-Occupant Residential Tax Credit and Homestead Deductions Temporary Act of 2004 (D.C. Law 15-159, May 18, 2004, law notification 51 DCR 5699).

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