District of Columbia Property Agreement
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How to fill out Property Agreement?
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FAQ
(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.
Real and personal property owned and operated by certain nonprofit organizations can be exempted from local property taxation through a program administered by the Board of Equalization and county assessors' offices in California.
Property Tax Exemption Certain charitable, fraternal, educational, and religious organizations may be eligible for an exemption from state property tax. Once the property tax exemption is granted, the exempt status continues until it is revoked.
Being a 501(c)(3) nonprofit means your organization is exempt from paying most taxes at the federal level. However, being recognized as tax-exempt by the IRS does not automatically mean your organization is exempt from local D.C. taxes including income, franchise, sales, use, and personal property taxes.
Who Must File? Individuals, corporations, partnerships, executors, administrators, guardians, receivers, and trustees that own or hold personal property in trust in the District of Columbia must file a DC personal property tax return.
Most non-profits must pay real estate taxes even if they are exempt from paying other local, state, or federal taxes. In order for a nonprofit's property to be exempt from real estate taxes, the non-profit must be exempted by classification or designation as defined in Virginia Code Section 58.1 Chapter 36.
2. FP-31 Tax Return. The FP-31 tax return is essential for individuals who use property for business purposes in D.C. This includes rental property owners, freelancers, contractors, and 1099-NEC employees.
Organizations applying for exemption from D.C. real property tax must own the real property for which the request is made and qualify under D.C. Official Code § 47-1002. The applicant must specify the subsection of § 47-1002, detailing the major categories of exempt property, pursuant to which the exemption is sought.
