District of Columbia § 47-4635 UNCF — 10-year real property tax abatement.

District of Columbia Statutes

§ 47-4635 — UNCF — 10-year real property tax abatement.

District of Columbia·Title 47 Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]·Ch. 46 Special Tax Incentives.

(a)For the purposes of this section, the term:

(1)“DCRA” means the Department of Consumer and Regulatory Affairs.

(2)“Property” means the real property in Square 441, as referenced in the District of Columbia Office of the Surveyor Record of Squares, Book II, Page 441, that is owned by UNCF.

(3)“UNCF” means the United Negro College Fund, Inc., a New York nonprofit corporation founded in 1944 by Dr. Frederick Patterson that provides assistance to approximately 60,000 students a year at 900 colleges and universities and 39 historically black colleges and universities nationwide.

(b)The real property taxes imposed by Chapter 8 of this title on the property shall be abated for 10 years, beginning on October 1, 2024, provided, that:

(1)The property shall be owned by UNCF duri

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(a) For the purposes of this section, the term:

(1) “DCRA” means the Department of Consumer and Regulatory Affairs.

(2) “Property” means the real property in Square 441, as referenced in the District of Columbia Office of the Surveyor Record of Squares, Book II, Page 441, that is owned by UNCF.

(3) “UNCF” means the United Negro College Fund, Inc., a New York nonprofit corporation founded in 1944 by Dr. Frederick Patterson that provides assistance to approximately 60,000 students a year at 900 colleges and universities and 39 historically black colleges and universities nationwide.

(b) The real property taxes imposed by Chapter 8 of this title on the property shall be abated for 10 years, beginning on October 1, 2024, provided, that:

(1) The property shall be owned by UNCF during the duration of the abatement period;

(2) The property continues to either be occupied by UNCF, or leased by UNCF to another nonprofit organization that works in a partnership with, and has a mission similar to, UNCF during the duration of the abatement period;

(3) [Repealed].

(4) [Repealed].

(c) The total abatement under this section shall not exceed:

(1) In tax year 2025, $515,000; and

(2) For each succeeding tax year, an amount equal to $515,000 in Fiscal Year 2025 dollars, plus an escalation of 3%, compounded annually, for each subsequent tax year for the duration of the abatement.

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