NOTICE TO MEMBERS

The District of Columbia Office of Tax and Revenue on April 26, 2023 posted

OTR TAX NOTICE 2023 -03 

NOTICE REGARDING THE TAXATION OF INSTRUMENTS RELATING TO REFINANCES AND MODIFICATIONS

This Notice Replaces and Supersedes ORT Tax Notice 2014-05 (dated May 21, 2014)

This notice supplements and supersedes OTR Tax Notice 2014-05 on commercial refinances and modifications to provide more clarification on what constitutes a refinance for recordation tax purposes.  Generally, to constitute a refinance, the new loan must be made to the same obligor(s) who wasindebted under the loan(s), as modified and restated, if applicable, that is being paid off,extinguished, and replaced, and must be secured by the same real property that securedthe loan(s), as modified and restated, if applicable, being paid off, extinguished, and replaced.

The revised tax notice is published on Recorder Of Deeds website and OTR’s Tax Law and Guidance – Notices.

Review Full Text of Notice

OTR TAX NOTICE 2023-03

For additional information, please call
ROD’s Customer Service Center at (202) 727-5374 or
contact Ida Williams; Direct phone: (202) 442-8610;  ida.williams@dc.gov