District of Columbia Real and Personal Property Tax Exemption Act

[AI summary unavailable — showing source text] District of Columbia Real and Personal Property Tax Exemption Act - Title I: Real and Personal Property Tax Exemptions: Exempts from taxation in the District of Columbia, with specified exceptions: (1) property owned by the United States; (2) property owned by the District of Columbia; (3) property owned by any instrumentality or independent agency of the United States or the District of Columbia which is exempt from taxation; and (4) property owned by a foreign government, actually used for consulor purposes. Exempts from personal property taxes: (1) all household belongings not held for sale, rent or business use; (2) works of art, owned by a nonresident of the United States, which are lent to the Trustees of the National Gallery of Art: and (3) registered motor vehicles and trailers. Provides for graduated exemptions until fiscal year 1977, and all succeeding fiscal years, at which time 60 percent of the value of specified property (including the buildings of art galleries, libraries, public charities, hospitals, schools, cemeteries, churches and building grounds) shall be exempt from taxation. Requires an organization seeking a property exemption to apply to the Commissioner of…