Page:United States Statutes at Large Volume 50 Part 1.djvu/709

 684 Property transferred exclusively for public, etc., purposes. Beneficiary dying within six months after testator's death and befor e posse ssion, etc. Application of title. Transferswithin two years prior to death. Consolidation of prop erty a nd int er- est s. Tax based on mar- ket value ; appraised. Appraisal deemed true value . Tax i mposed to be a lien on property . Report by dece- dent's persona l repre - sentative. Contents. Payment of Mi xes. 75 TH CONGRESS, 1ST SESSION-CH. 6 90 AUGUST 17, 1937 (e) Prop erty tra nsfe rred exc lusi vely for pub lic or m unic ipal .pur- poses, to the United States or the District of Columbia, or exclu- sively for charitable, educational, or religious purposes within the District of Columbia, shall be exempt from any and all taxation under the provisions of this section. (f) Where any beneficiary has died or may hereafter die within six months aft er the death of the decede nt and before coming into I lie possession and enjoyment of any property passing to him, and before selling, assigning, transferring, or in any manner contracting with respect to his interest in such property, such property shall be taxed only once, and if the tax on the property so passing to said beneficiary has not been paid, then the tax shall be assessed on the property received from such share by each beneficiary thereof, finally entitled to the possession and enjoyment thereof, as if he had been the original beneficiary, and the exemptions and rates of taxation shall be governed by the respective relationship of each of the ult imate benefic iaries to the first deceden t. (g) The provisions of article I of this title shall apply to prop- erty in the estate of every pers on who shall die after thi s title becomes effective. (h) The transfer of any property, or interest therein, within two years prior to death, shall, unless shown to the contrary, be deemed to ha ve been made in contemplati on of death. (i) All property and interest therein which shall pass from a decedent to the same beneficiary by one or more of the methods specified in this section, and all beneficial interests which shall accrue in the manner herein provided to such beneficiary on account of the death of such decedent, shall be united and treated as a single interest for the purpose of determining the tax hereunder. SEC. 2. The tax provided in section 1 shall be paid on the market value of the property or interest therein at the time of the death of the decedent as appraised by the assessor of the District of Columbia, or, in the discretion of the assessor, upon the value as appraised by the probate court of said District. The taxable por- tion of real or personal property held jointly or by the entireties shall be determined by dividing the value of the entire property by the number of persons in whose joint names it was held. SEc. 3. The appraisal thus made shall be deemed and taken to be the true value of the said property or interest therein upon which the said tax shall be paid, and the amount of said tax and the tax imposed by article II of this title shall be a lien on said property or interest th erein for the period of te n years from t he date of the death of the decedent. SEC. 4 . The personal representative of every decedent, the value of whose estate is in excess of $1,000, shall, within fifteen months after the death of the decedent, report under oath, to the assessor, on forms provided for that purpose, an itemized schedule of all the property (real, personal, and mixed) of the decedent ; the market value thereof at the time of the death of the decedent ; the name or names of the persons to receive the same and the actual value of the property that each will receive ; the relationship of such persons to the decedent, and the age of any persons who receive a life interest in the property, and any other information which the assessor may require. Said personal representative shall, within eighteen months of the date of the death of the decedent and before distribution of the estate, pay to the collector of taxes of the District of Columbia the taxes imposed by section 1 upon the distributive shares and legacies in his hands and the tax im posed by sect ion 1 hereof against each d istributive share or legacy shall be charged against such distributive share or legacy unless the wil l shal l other wise di rect.