D.C. Mun. Regs. tit. 9, r. 9-334

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 9-334 - THE INCOME-EXPENSE REPORTING FORM

334.1

In addition to the collection of the information set forth in § 333.4, the Deputy Chief Financial Officer may, in his or her discretion, by written notice to the affected taxpayer, require the taxpayer to submit electronically additional records and documents that will assist in determining or substantiating the income and economic benefits of the income-producing property.

334.2

In the absence of any extension of time granted by the Deputy Chief Financial Officer, all records and documents shall be electronically submitted on or before 11:59 PM of April 15^th midnight of the year in which written notice of a filing requirement of such form is mailed to the affected taxpayer.

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334.3

Examples of records and documents include, but are not limited to, rent rolls, leases, subleases, graduated leases, interim financing documents, gross sales figures, gross gallonage figures, receipts and billings, and (certified/uncertified) financial reports.

334.4

The income-expense form required to be completed by affected taxpayers shall contain a request for the following general information with respect to the income-producing property for the reporting period in question:

(a) Income;

(b) Expenses;

(c) Vacancy and credit loss;

(d) Any miscellaneous information deemed by the Office as necessary to inform it fully of the income and economic benefits of the property, including but not limited to the following:

(1) Utility payments;

(2) Owner-occupancy;

(3) Number of units, number of units available for rent, number of units actually rented, length of time units remained vacant;

(4) Length of typical leases to tenants;

(5) Lease escalation clauses;

(6) Lease increases or decreases;

(7) Percentage leases;

(8) Rent collected (with or without parking and with or without miscellaneous income) during a given period of time;

(9) Real estate taxes paid by the owner;

(10) Real estate taxes paid by the lessee;

(11) Age of improvements to the property;

(12) Year major or minor renovation completed;

(13) Gross sales;

(14) Scheduled rental rates for any given span of time within the reporting period; and

(15) Actual Gross Income;

(e) A certification from the owner or agent that the information supplied on the income-expense form is complete and accurate; and

(f) A notice of penalties provided for by law for failure to return timely, return accurately, or return completely the income-expense form described in this section.

334.5

Income producing properties (excepting hotels) shall provide complete rent rolls in the format provided by the Deputy Chief Financial Officer. The rent rolls shall be as of December 31 of the preceding calendar year. The rent rolls shall be an attachment to and integral part of the income-expense form completed and filed electronically with the income-expense form by the affected taxpayer.

334.6

REPEALED.

334.7

REPEALED.

334.8

For the purposes of § 334.5, the term "rent rolls" includes, but is not limited to, the following:

(a) Tenant names, unless residential apartment units are allowed to be substituted therefor by the Deputy Chief Financial Officer;

(b) Floor and square foot area occupied;

(c) Commencement date of the lease;

(d) Expiration date of the lease, or length of the lease;

(e) Annual contract rent; and

(f) Pass through provisions (real estate taxes, and operating expenses, Consumer Price Index Adjustments, options to renew provisions and their terms, and unoccupied areas or vacant space by square foot).

334.9

Income and expenses reported and attributable to corporations, partnerships, associations. or individuals that do not reflect the business income of the property shall not be considered sufficient for purposes of this section.

D.C. Mun. Regs. tit. 9, r. 9-334

Final Rulemaking published at 25 DCR 10919, 10921 (June 22, 1979), 16 DCRR § 102; as amended by Final Rulemaking published at 32 DCR 1352 (March 8, 1985); amended by Final Rulemaking published at 65 DCR 001203 (1/25/2019)