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Daily Tax Report: State

District of Columbia Mayor Signs Law Providing Real Property, Recordation, Transfer Tax Abatements to Development

Oct. 8, 2019, 9:16 PM

The District of Columbia Mayor Oct. 7 signed a law temporarily amending the abatement of real property taxes and excise taxes. The law includes measures: 1) adding definitions for further context; 2) providing a property tax abatement for 15 tax years not to exceed $3 million to the MLK Gateway property at 1201-1215 Good Hope Road, S.E.; 3) announcing the required actions the property must perform to receive the abatement; 4) providing exemptions from recordation and transfer taxes imposed; and 5) stating the abatements will not begin before Oct. 1, 2020. The law takes effect after a 30 legislative day...

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