Office of Tax and Revenue Archives - Jackson & Campbell, P.C.

16 Jan 2020 | Roy L. Kaufmann

Settlement Considerations on Acquisitions of DC Commercial Property – Plan Early and Keep Lines of Communication Open Between Settlement Company and Lender

The settlement process on commercial transactions and, more particularly, the completion of the FP7/C (Real Property Recordation and Transfer Tax Form) is markedly different than residential transactions. One particular pitfall has recently come to light that has plagued and delayed some transactions and has resulted in more money being due for recordation taxes than the buyer or lender had anticipated ... Read More

TAGGED: OTR Tax Notice 2019-05, Washington DC Real Estate, DC Commercial Property, Office of Tax and Revenue

7 Sep 2018 | Roy L. Kaufmann

D.C. Tax Rate Changes Effective October 1, 2018

The District of Columbia’s Office of Tax and Revenue has issued a notification of changes in various tax rates that will become effective on Monday, October 1, 2018. The real property tax for Class 2 properties will increase to $1.65 per $100 of value for properties worth less than $5,000,000; $1.77 from $5 million to $10 million; and $1.89 for ... Read More

TAGGED: estate tax return, real property tax, Office of Tax and Revenue, District of Columbia’s Office of Tax and Revenue