# D.C. Code § 42-1104: Computation of tax where absence of or no consideration; when fair market value to be shown on return; consideration on deeds of trust or mortgages

> District of Columbia · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1104

## Section

- **Citation:** D.C. Code § 42-1104
- **Heading:** Computation of tax where absence of or no consideration; when fair market value to be shown on return; consideration on deeds of trust or mortgages
- **Jurisdiction:** District of Columbia
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** DC Code / Title 42 / Chapter 11 / § 42-1104

## Text

(a) Consideration for a deed conveying title to real property or transferring an economic interest in real property, for purposes of the tax imposed by § 42-1103(a) and (b), including any mortgages, liens, or encumbrances thereon, shall be the amount required to be paid or provided in exchange for the execution and delivery of the deed. Where no price or amount is paid or required to be paid for the real property or for the transfer of an economic interest in real property or where the price is nominal, the consideration for the deed shall, for purposes of the tax imposed by § 42-1103(a) and (b), be the fair market value of the real property, and the tax shall be based upon the fair market value.
(b) On a deed conveying a security interest in real property, the principal amount of debt that the deed secures, for the purposes of the tax imposed by § 42-1103(c) , shall be the principal amount of the debt recited on the face of the deed unless, from other information available to the Mayor, the Mayor determines that the principal amount of debt is a higher amount.
(c) Whenever, in the opinion of the Mayor, a submission for recordation does not contain sufficient information to determine the fair market value of real property conveyed by a deed, an economic interest in real property transferred by a deed, or the principal amount of debt secured by a deed, the Mayor may determine the amount from the information available.

## Nearby sections

- [D.C. Code § 42-1101 § 42-1101. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1101.md)
- [D.C. Code § 42-1102 § 42-1102. Deeds exempt from tax.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1102.md)
- [D.C. Code § 42-1102.01 § 42-1102.01. Sales or assignments of instruments on secondary market exempt from tax.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1102.01.md)
- [D.C. Code § 42-1102.02 § 42-1102.02. Transfer of economic interest defined.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1102.02.md)
- [D.C. Code § 42-1103 § 42-1103. Imposition of tax; rate; return; contents; liability for tax; extension of period for filing, and waiver of, return.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1103.md)
- [D.C. Code § 42-1104 § 42-1104. Computation of tax where absence of or no consideration; when fair market value to be shown on return; consideration on deeds of trust or mortgages.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1104.md)
- [D.C. Code § 42-1105 § 42-1105. Investigation by Mayor; summons; production of books, records, etc.; compelling attendance and production; refusal or obstruction of investigation.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1105.md)
- [D.C. Code § 42-1106 § 42-1106. No recordation until return filed and tax paid; deeds evidencing transfer of economic interest in real property in District.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1106.md)
- [D.C. Code § 42-1107 § 42-1107. Burden on taxpayer to prove deed exempt from tax.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1107.md)
- [D.C. Code § 42-1108 § 42-1108. Deficiencies in tax; notice of determination; protests; hearings; time for payment.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1108.md)
- [D.C. Code § 42-1108.01 § 42-1108.01. Enforcement.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1108.01.md)
- [D.C. Code § 42-1109 § 42-1109. When Mayor may compromise tax.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1109.md)
- [D.C. Code § 42-1110 § 42-1110. When Mayor may compromise tax; written agreement as to tax liability; finality thereof; penalties for certain acts in relation to compromises and agreements; prosecutions.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1110.md)
- [D.C. Code § 42-1111 § 42-1111. Mayor may compromise penalties and adjust interest.](https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1111.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_DC_T42_C11_S42-1104. Check the current official text before relying on it. Not legal advice.