According to DC Code § 47-813, a Class 1 property is established if the property is comprised of improved residential real property, is occupied by the owner, contains not more than 5 dwelling units, and is used exclusively for non-transient residential dwelling purposes. Class 1 properties benefit from lower tax rates as compared to other property class designations.
Our copy of the associated model form ROD-21 is Cx23221, which is an affidavit for a Class 1 property. Borrowers can file this at the tax department to secure Class 1 property tax treatment. As this is not typically a needed loan transaction document, Cx23221 is an “upon request” document. In order to match the names and capacities printing in the Affidavit notary block, we are modifying the signature lines to support NPEs and Trusts if they need to also sign the Affidavit.
This change will be in effect immediately. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
DR-137006