Section 9-238 - Property owned by community association. - Maryland Statutes

§ 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.]