District Of Columbia § 47-820.02 - Residential real property subject to certain affordability and resale restrictions; Mayor to issue rules.
Full text of District Of Columbia D.C. Code § 47-820.02 — Residential real property subject to certain affordability and resale restrictions; Mayor to issue rules., with citation guidance and answers to common questions.
§ 47-820.02. Residential real property subject to certain affordability and resale restrictions; Mayor to issue rules.
47-820.02Except as otherwise provided in subsection (b) of this section, the assessed value of resale restricted properties (as defined in subsection (c) of this section) shall be:
First determined for the year in which the current property owner received the property.
The base assessment amount shall be the amount paid by the current property owner in exchange for the property, not including:
Any grants or other amounts received by the property owner from government agencies, housing organizations, and other entities that are not likely to be repaid (absent a violation of the terms of the limitations, encumbrances, or other restrictions attached to the sale); and
Any preexisting equity as defined in [], in the case of resale restricted properties subject to [ ( et seq.)].
For subsequent years in which the limitations, encumbrances, or restrictions remain in effect, the property shall be assessed at the base assessment amount, adjusted by the consumer price inflation index for the Washington-Baltimore Metropolitan Area as reported by the Bureau of Labor Statistics, United States Department of Labor.
If the purchase price is not ascertainable or the property has been transferred from a government entity or tax-exempt organization to a property owner without significant consideration, the property shall be assessed taking into account all limitations, encumbrances, and restrictions and shall be assessed in its initial year at a value not to exceed the price the property owner would receive under a sale under the terms of the limitations, encumbrances, and restrictions associated with the property. In any subsequent year in which the limitations, encumbrances, or restrictions remain in effect, the property’s assessed value shall be calculated under subsection (a)(2) of this section.
For the purposes of this section, the term “resale restricted properties” means any properties for which a United States or District of Columbia government entity, or a charitable organization with tax-exempt status under section 501(c)(3) of the Internal Revenue Code of 1986, approved October 22, 1986 (100 Stat. 2085; 26 U.S.C. § 501(c)(3)), directly or indirectly, imposes limitations, encumbrances, or restrictions upon the properties’ subsequent sale or transfer that are intended to preserve or promote the affordability of housing for low- and moderate-income owners, for a period of not less than 5 years.
The Mayor shall promulgate rules for the administration of this section within one year of [October 20, 2005].
Annotations
“Sec. 1283. Repealed.”
“(b) Repealed.
“(a) Section 1281 shall apply for taxable years beginning after September 30, 2005.
“Sec. 1282. Applicability; conditional effect.
Applicability and expiration of subtitle HH of title I, §§ 1280 to 1284, of : Sections 1282 and 1283 of , as amended by , § 7068(f), (g), provided:
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 47-820.02
What does D.C. Code § 47-820.02 cover?
Section 47-820.02 ("Residential real property subject to certain affordability and resale restrictions; Mayor to issue rules.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 47-820.02?
A common citation format is "D.C. Code § 47-820.02" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 47-820.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.