District of Columbia Real Property Tax Revision Act

District of Columbia Real Property Tax Act - Title I: Short Title, Statement of Purpose, and Definitions - Declares the intent of Congress to revise the real property tax in the District of Columbia, enumerating the objectives of such revision, including equitable sharing of the financial burden of the District of Columbia and full public information regarding assessments and appeal procedures.

Defines the terms used in this Act.

Title II: Authority and Procedure to Establish Real and Personal Property Tax Rates - Levies, for each fiscal year, a tax on real property in the District of Columbia. Directs the District of Columbia Council to set the rate of such taxation. Directs the Commissioner of the District of Columbia to submit annually a proposed real property tax rate for the next fiscal year. Requires that he submit additional specified information at such time, including: (1) the total aggregate assessed value of taxable real property by major class of property, and (2) all information on tax exempt property.

Directs the Council to compare tax burdens in the District with the tax burdens of property in the vicinity of the District in establishing the District's tax rate. Requires the Commissioner to publish annually such relative tax burden information.

Title III: Assessment and Administration - Provides that the assessed value of all real property shall be listed on the assessment roll for taxation purposes annually as provided in this title. Sets forth the regulations governing: (1) the frequency of assessments; (2) administrative orders; (3) the duties of the Commissioner; (4) assessment in the name of the owner and assessment by address, lot, and squares; (5) the compilation of the assessment roll; and (6) the availability, for public inspection, of such roll.

Requires that annually, no later than March 1, each taxpayer shall be notified of the assment of his real property for the next fiscal year. Specifies the content of such notice.

Establishes a Board of Equalization and Review for the District to hear complaints on assessments and revise the assessment roll annually and present it to the Commissioner. Prescribes the procedure for complaints and appeals by persons aggrieved by any assessment, equalization or valuation made. Details the duties of the Superior Court in class action cases. Imposes penalties for failure to preform duties required by this, and other, Acts.

Title IV: Homeowner Exemption - States that a taxpayer who owns, has title to, and occupies property which is the principal place of residence, including a condominium, may deduct $3,000 from the assessed value of such property, and any cooperative housing project may deduct from the assessed value of its property $3,000 times the number of housing units in such cooperative housing project which are occupied as the principal place of residence of an owner of such cooperative housing project.

Title V: Prohibition Against Execessive Tax Increases in One Year Due to Reassessment - Provides that in the event the assessed value is increased by more than 25 percent in one year, the additional value shall be disregarded under the enumerated circumstances.

Title VI: Tax Incentives for Rehabilitation of Property and New Construction in Depressed Areas of the City and For the Preservation of Historic Property - Directs the Council to provide tax incentives for: (1) the rehabilitation of existing structures and new construction in depressed areas; and (2) the rehabilitation and maintenance of historic property.

Title VII: Tax Relief for Certain Historic Properties - Directs the Commissioner, for certain officially designated historic property, to assess land and improvements which, if less than full market value, shall be the basis of tax liability to the District.

Title VIII: Tax Deferral - Provides that an eligible taxpayer may defer each year any real property tax owed in excess of 110 percent of his immediately preceding year's tax liability. Sets forth the eligibility requirements for such deferral.

Title IX: Disposal of Tax Delinquent Property to Encourage Homeownership - Provides that in the event that an auction of one- or two-unit residential real property at sale of property for delinquent taxes or of land that could be used for construction of such residential property, produced no bid at least equal to 70 percent of the assessed value of the property, the Commissioner may purchase the property at a price of $1 higher than the highest amount bid.

Authorizes the Council to establish a program whereby titles to houses acquired by tax sale may be transferred to persons meeting criteria which shall be established by the Council.

Title X: Real and Personal Property Tax Exemptions - Revises the tax exemption laws governing property belonging to the United States, the District of Columbia, or to foreign governments.

Requires the Commissioner to publish, by class and by individual property, a listing of all real property exempt from the real property tax in the District.

Title XI: Property Tax Credit for District of Columbia Residents - Provides, under the District of Columbia Income and Franchise Act of 1947, that for purposes of providing relief to certain District of Columbia residents who own or rent their principal place of abode and who reside in same, a credit shall be allowed to the eligible claimant equal to the amount by which all or a portion of real property taxes the taxpayer pays, or rent paid constituting property taxes, on his principal place or residence for the taxable year, exceeds a percentage of his household gross income for that year. Defines the term "household gross income" and other terms used in this title. Sets forth the procedures for claiming such tax credit and the circumstances under which it shall not be permitted.

Title XII: Repeal of Modification of Existing Law - Repeals specified provisions of enumerated Acts, including the District of Columbia Public Works Act.

Title XIII: General Provisions - States that, except as specifically provided in this Act, nothing in this Act, shall be construed so as to affect the authority vested in the Commissioner of the District of Columbia or the authority vested in the District of Columbia Council by Reorganization Plan Numbered 3 of 1967.

Details the effect of repeals or amendments by this Act on other provisions, including existing rights and liabilities, of District of Columbia law.