District of Columbia § 47-1522 Levy of annual tax on personal property.

District of Columbia Statutes

§ 47-1522 — Levy of annual tax on personal property.

District of Columbia·Title 47 Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]·Ch. 15 Taxation of Personal Property.·Subch. II Procedure.

(a)Each year the district shall levy a tax against every person on the tangible personal property owned or held in trust in that person’s trade or business in the District. The rate of tax shall be $3.40 for each $100 of value of the taxable personal property, in excess of $225,000 in value.

(b)Construction equipment, vehicles, trailers, tools, and any other tangible personal property brought into the District on a temporary basis and used in a trade or business shall be taxed for the period that the property was physically located in the District.

(c)Persons owning leased personal property having a taxable situs in the District shall be subject to the tax and to the filing requirement of § 47-1524(b) .

(d)Real property improvements that do not become an integral part of the realty

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(a) Each year the district shall levy a tax against every person on the tangible personal property owned or held in trust in that person’s trade or business in the District. The rate of tax shall be $3.40 for each $100 of value of the taxable personal property, in excess of $225,000 in value.

(b) Construction equipment, vehicles, trailers, tools, and any other tangible personal property brought into the District on a temporary basis and used in a trade or business shall be taxed for the period that the property was physically located in the District.

(c) Persons owning leased personal property having a taxable situs in the District shall be subject to the tax and to the filing requirement of § 47-1524(b) .

(d) Real property improvements that do not become an integral part of the realty shall be subject to the personal property tax imposed by subsection (a) of this section.

(e) Persons owning or holding in trust any tangible personal property located or having a taxable situs in the District on July 1st of the tax year that is used or available for use in a trade or business, whether or not operated for profit, shall file a return according to § 47-1524(b) .

District of Columbia § 47-1522 (Levy of annual tax on personal property.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Feb. 28, 1987, D.C. Law 6-212, § 3, 34 DCR 850; Sept. 10, 1992, D.C. Law 9-145, § 106, 39 DCR 4895; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575; Oct. 20, 1999, D.C. Law 13-38, § 2702(d), 46 DCR 6373; Mar. 20, 2008, D.C. Law 17-123, § 3(b), 55 DCR 1513