Section 9-238 - Property owned by community association.
§ 9-238. Property owned by community association.
(a) "Community association" defined.- In this section, "community association" means:
(1) a neighborhood organization that:
(i) is comprised of city blocks of at least 25 households or 25% of the households of a local neighborhood consisting of 40 or more individual households, whichever is less, as defined by specific geographic boundaries in the bylaws or charter of the association;
(ii) is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code;
(iii) requires as a condition of membership, the voluntary payment of monetary dues or membership fees at least annually; and
(iv) is organized and operated for one or more of the following purposes:
1. relief of neighborhood tensions;
2. prevention of community deterioration;
3. provision of relief to the poor, underprivileged, or distressed;
4. preservation of historic areas;
5. community revitalization; or
6. promotion of the common good and social welfare of the people of the community; or
(2) an umbrella organization that:
(i) consists of coalitions of several neighborhood organizations as described in paragraph (1) of this subsection; and
(ii) addresses issues that affect broad areas of the county or municipal corporation where the umbrella organization is located.
(b) Grant of tax credit requirements.- The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may grant, by law, a property tax credit under this subsection against the county or municipal corporation property tax imposed on personal property that is owned by a community association for a taxable year, if:
(1) the community association was in existence as of the first day of the taxable year for which the credit under this section is to be allowed;
(2) the community association is in good standing, if it is organized as a Maryland corporation; and
(3) the personal property is valued at $8,000 or less.
[2000, ch. 403.]