* x * Government of the District of Columbia Office of Tax and Revenue Recorder of Deeds 1101 4th Street, SW Washington, DC 20024 Phone (202)727-5374 The Lower Income Homeownership Exemption Program Individual applicants must complete Part through Part lV, non-profit organizations, shared equity investors and cooperative housing associations must complete Part | through Part V, of the application for Lower Income/Shared Equity Homeownership Exemption (0.C. Law 5-31), In order to qualify, your income must fall under the household income limits against all person(s) in the household. The purchase price of the property shall not exceed $408,000.00. The Lower Income Homeownership Exemption program, if you qualify, will abate your real property taxes for the first five (5) years you are in your home, depending ‘on when you apply. Ifthe transfer is under a Shared Equity Financing Agreement (SEF), a copy of the ‘SEF Agreement must accompany the claim for exemption. If the transfer is under the Non-Profit Housing Organization provision, a copy of the organization's certification under section 501(c)(3) of the Internal Revenue Code must accompany the claim for exemption. If the transfer is under the Cooperative Housing Association provision, a list ofall tenants and a completed Part Il (Household Gross Income Schedule), along with proof of income for each qualifying tenant must accompany the claim for exemption. ‘An exemption if approved, shall be effective the December 1 following the date your deed is recorded. The filing deadline for the Lower Income Homeownership Exemption-Tax Abatement application received in any given tax year is September 30. Once approved, a notice from the Office of Tax and Revenue’s (OTR) Real Property ‘Tax Administration will be sent to you stating the effective dates the property will be placed in a non-taxable status. Once that notice is received, the applicant should notify and send a copy of the notice to the agency or person(s) to whom they pay their real property taxes. Questions regarding the status of your application should be directed to the OTR’s Customer Service Center at (202) 727-4829,* * * Government of the District of Columbia Office of Tax and Revenue Recorder of Deeds 1101 th Street, SW Washington, DC 20024 Phone (202)727-8374 In order to consider your Lower Income Homeownership Exemption-Tax Abstement application, the following documentary evidence is required: 4, The Lower Income Homeownership Exemption Application (FP-420), 2, Copy of the Settlement Statement. 3. Copy of the Sales Contract 4, Proof of Annual Household Income; Evidence of income includes, but is not limited to, current pay stubs, employment letters, Social Security statements, public assistance statements, retirement allotment, and unemployment compensation. In addition, we require your previous year’s income tax returns and Income Statement (W-2), 5. {fall eligible working person(s) in the household are not working, state in a notarized affidavit that the eligible person(s) is not working, the last employment that person(s) held, and why that person(s) is not werking now, 6. For self employed person(s) you must provide a notarized Profit and Loss Statement, Under penalty of perjury, for current income and previous year's income tax returns.* + pa Government of the District of Columbia | LOWER INCOME/SHARED Sn EQUITY HOMEOWNERSHIP Be ie Foods EXEMPTION [ DC CODE SEC. 47-3602 (a) (1) 2001 ED] vashinghon Deaonad QUALIFYING INCOME TABLE: EFFECTIVE: December 1, 2015 Phone (202)727-5374 PERSONS IN HOUSEHOLD HOUSEHOLD INCOME LIMITS 1. $67,120 2 65,280 3. 73,440 4. 81,600 5. 88,140 6 94,680 7. 101,220 8 107,760ak lk: Government of the District of Columbia Office of Tax and Revenue Recorder of Deeds 1101 4th Street, SW Washington, DC 20024 Phone (202)727-5374 ECONOMIC DEVELOPMENT ZONES LOWER INCOME HOMEOWNERSHIP EXEMPTION [ DC CODE SEC. 47-3502 (b) (4) 2001 ED] QUALIFYING INCOME TABLE: EFFECTIVE: December 1, 2015 PERSONS IN HOUSEHOLD HOUSEHOLD INCOME LIMITS 1. $67,265 Zs. 76,890 3. 86,515 4 96,085 6. 102,080 6 108,075 7. 114,125 8 120,120KKK el eoearst Government of the District of Columbia Office of Tax: land Revenue Recorder of Deeds 1101 ath Stroet, SW Washington, DC 20026 Phone (202)727-6374 APPLICATION Lower Income/Share Equity Homeownership Exemption (Be Laws [esas [ol eaateaeseneaaey apne = i rcemeaeeee address of property for which exemption is being claimed is different from above, list here: Is the propery for which the exemption is being cl [1 Private Home [7] parent [7] Condominium PARTI —— 1, Total Household Gross Income (from Part ill, Linet) $ 2. Qualifying Income (from Qualifying Income Table) $ Net difference (if Line 2 exceeds Line 1, you qualify $ for this exemption) PART square[—"] suttf——] tor] _ Designation of purchased property 2, ls the propery being transfered inte simele o [pursuant to a shared equity agreement cooperative housing association to anonprofit organization [71 economic development zone 3. If transferred pursuant to shared equity agreement, isthe lower-income household raceNing acredk aganet ont? = Cle []no 4, If property is owned by cooperative housing association, og are atleast 50% ofthe dveling units contained therein ves C]no occupied by households which meet income imitation? 5. Iftransfetred to a non-profit organization, has that ves [no organization been approved by the Internal Revenue Service? 6. If transfered to a non-profit organization, does that organi zation intend to transfer the property within 1 year to a house- o eS o wo) hold suibjectto the income imitations? 7. Have you ever owned real estate before? ves Ko. 186, ideokes Co ee 8. Purchase price § [—] atacn copy fats conc anc selene! hoo 9. Amount of mortgage § [7] 410. Date mortgage finaly due (matures) [—__ —] +1, Do you own the property 100% Ces no INO, what is your onnershipinterest? [ly* * * 12. Ifyou own less than 100% interest in the property, state name of owner of remainder, 113.Do you have an option to purchase any interest tot now owed by you? Des [no 14.Did you ecove a ret on he purchase pree ofthe propery? ves [Jno IFYES, state amount s 15.Didyou purchase the property rom @ member ofyourfamiy? [ves No IYES, stale name of eer | Did you reside in the property 12 months per year? Dves [no IFN, how mary months during the year do you reside inthe propery? [| 46.Do you own (in par or whole) anyother rel property? Ces Dn IFYES, state where: saa [] 17. Have you ever applied for the Lower Income Homeownership Exemption program before? Oves [no IFYES, indicate date and disposition of your application. | PART Il Household Gross Income Schedule ‘You must include the total income of all members living in the household you own or rent o @ o “ Source of income Claimant Spouse AllOthers TOTAL (2) Wage, salary. s bonus, commisns, fos (2) biden intros (0) Business incame (6) Parsons 8 antes (©) Copal gain pros (0 Aimonyreccned (9) Social Seay andlor Rao Retrament (1) Unerploymentnscanceedor Wioer'sconpensaon (0. Suppotmeney edo pubic astisncn grants 0) Sikpey exc fom hone (8) Miia corgensaten ()-Fabovtip svar and grants (7) Weieuranesprocaods (0) otras pelos ar aby aymene (0) Gioivenes Los me nerance Income subjeo Unreported SuiessTax [ Casneisrtions tern) ‘TOTAL HOUSEHOLD GROSS INCOME (etorhere end on Li 1, Pact, Page 2) C— I) oa TT) TO TET OT {Noms seal ae] el Ca ez ees sac ced ee as ese] sesae* * * Household Residents Other than Claimant List name, relationship, and social security number of all persons residing in the household, Name Relationship Social Security No. Age | hereby swear or affirm under penalty ofthis law that this return, including any accompanying ‘Schedules and Statements, has been examined by metus and to the best of my/our information, knowledge and belief that statements and representations are correct and true, Viwe hereby ‘acknowledge that any false statement or misrepresentations live made on this return is ‘punishable by criminal penalties under the laws of the District of Columbia. co Signature of Claimant Date c ‘Signature of Preparer f other than Claimant Date Glaimants Telephone No. (Home) ES | aeeccaceccc Claimant's Telephone No. (Work) Print Name of Preparer iFother than Claimant Sworn and subscribed before me this[ day ot [ (Notarial Seat) [20 Notary Public»* Ed * PART V Certification of Non-Profit Organizations, Shared Equity Investors and Cooperative Housing Associations A. Single Family Residence a a duly authorized officer of hereby certify under oath, ‘asin roniton that the intends to transfer the property ‘on atten Goaaten herein before described to a lower income household within three years from the date of Ferro] Seater | TinsreitPounhg Ovarian Authorized Signature Sworn and subscribed before me this] day of [of] (Notarial Seal) Notary Public B, Multi-Family Dwelling 1, +a duly authorized officer of hereby certify undor oath, Terps Open that the a Intends to transfer at least 35% Tarpon Osan ofthe units in the herein before described real property to lower income households within three Eo) years from the date of acquisition by ‘en Hash Oanzalan Authorized Signature (pseececeerereee ee eames Tile Sswom and subscribed before me this] day of [ 20 (Notarial Seal) Notary Public> > ca C. Shared Equity Financing 1, (We) Person(s) acquiring qualified ownership interest in the property hereinibefore described pursuant a SEF agreement, hereby certify that the CEF agreement is intended to meet the requirements set forth in D.C. Law 5-3, Authorized Signature Som and sued toe me tie dey. (Notarial Seal) Notary Public D. Cooperative Housing Association 1 a duly authorized officer of [eee errr hereby certify under oath, esp Hg Sapna that the itt intends to transfer at least 50% Naa ica Geen ‘of the units in the herein before described real property to lower income households within three years from the date of acquisition by an opera Hob Orman Authorized Signature aes Title ‘Sworn and subscribed before me this 1 = (Notarial Seal) [soo te}