Pub. L. 93-407, tit. IV, pt. 1, sec. 403

Sec. 403. For the purposes of this title— (1) The term “real property” means real estate identified by plat on the records of the District of Columbia Surveyor according to lot and square together with improvements thereon. (2) The term “Commissioner” means the Commissioner of the District of Columbia established under Reorganization Plan Numbered 3 of 1967. (3) The term “Council” means the District of Columbia Council established under Reorganization Plan Numbered 3 of 1967. (4) The term “estimated market value” means 100 per centum of the most probable price at which a particular piece of real property, if exposed for sale in the open market with a reasonable time for the seller to find a purchaser, would be expected to transfer under prevailing market conditions between parties who have knowledge of the uses to which the property may be put, both seeking to maximize their gains and neither being in a position to take advantage of the exigencies of the other. (5) The term “regulation”, unless specifically identified as a regulation of the Commissioner, means a regulation of the Council enacted under section 406 of the Reorganization Plan Numbered 3 of 1967, and after January 2, 1975, such term means an act of the Council of the District of Columbia enacted under section 412 (and related sections) of the District of Columbia Self-Government and Governmental Reorganization Act. (6) The term “tax year” means— (A) with respect to a real property tax rate proposed by the Mayor or established by the Council after January 1 but before June 30 of any calendar year, the next following fiscal year; and (B) with respect to a real property tax rate proposed by the Mayor or established by the Council after June 30 in any calendar year, the fiscal year during which the rate was proposed or established.