88 STAT. ]
PUBLIC LAW 93-407-SEPT. 3, 1974
1051
no increase in annuity shall be paid for any period prior to the first day of the first month which begins on or after the ninetieth day after the date of enactment of this title, or the date on which the annuity commences, whichever is later. TITLE IV—REAL PROPERTY TAX
, district of co. lumbia Real Property Tax Re-
PART 1—SHORT TITLE, STATEMENT
or PURPOSE, AND DEFINITIONS '
vision Act of 1974.
SEC. 401. This title may be cited as the "District of Columbia Real D.C. code 47" Property Tax Revision Act of 1974". " ' "°'"SEC. 402. I t is the intent of Congress to revise the real property DC. code 47" tax in the District of Columbia to achieve the following objectives: ^^^" (1) Equitable sharing of the financial burden of the government of the District of Columbia. (2) Full public information regarding assessments and appeal procedures. (3) Promotion of economic activity, diversity of land use, and preservation of the character of the District of Columbia. (4) Assurance that shifts in the tax burden on individual taxpayers will not be excessive. (5) Comparability of tax effort between the District of Columbia and surrounding jurisdictions in the metropolitan area and cities of comparable size. SEC. 403. For the purposes of this title— S^^^"!^°"^; D.C. Code 47» (1) The term "real property" means real estate identified by plat 622.^ ^ '^"^" ' " on the records of the District of Columbia Surveyor according to lot and square together with improvements thereon. (2) The term "Commissioner" means the Commissioner of the District of Columbia established under Reorganization Plan Numbered 3 of 1967.
5 USC app
(3) The term "Council" means the District of Columbia Council established under Reorganization Plan Numbered 3 of 1967. (4) The term "estimated market value" means 100 per centum of the most probable price at which a particular piece of real property, if exposed for sale in the open market with a reasonable time for the seller to find a purchaser, would be expected to transfer under prevailing market conditions between parties who have knowledge of the uses to which the property may be put, both seeking to maximize their gains and neither being in a position to take advantage of the exigencies of the other. (5) The term "regulation", unless specifically identified as a regulation of the Commissioner, means a regulation of the Council enacted under section 406 of the Reorganization Plan Numbered 3 of 1967, and after January 2, 1975, such term means an act of the Council of the District of Columbia enacted under section 412 (and related sections) of the District of Columbia Self-Government and Governmental Reorganization Act. D.C 146. (6) The term "tax year" means— (A) with respect to a real property tax rate proposed by the Mayor or established by the Council after January 1 but before June 30 of any calendar year, the next following fiscal year; and (B) with respect to a real property tax rate proposed by the Mayor or established by the Council after June 30 in any calendar year, the fiscal year during which the rate was proposed or established.
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