§ 10-3. Vacant dwellings.
(a) "Vacant dwelling" defined.
In this section, "vacant dwelling" means residential real property that:
(1) contains no more than 4 dwelling units; and
(2) either:
(i) has been cited as vacant and abandoned on a housing or building violation notice for 1 year; or
(ii) has been owned by the Mayor and City Council of Baltimore City for 1 year and is in need of substantial repair to comply with applicable City codes.
(b) Credit granted.
In accordance with the provisions of State Tax-Property Article § 9-304(c) , there is hereby granted a tax credit against the Baltimore City real property tax imposed on a vacant dwelling owned and occupied as the principle residence by a qualifying owner.
(c) Qualifications.
Owners of vacant dwellings may qualify for the tax credit authorized by this section by:
(1) substantially rehabilitating the vacant dwelling in compliance with the code and laws applied to dwellings;
(2) occupying the dwelling after rehabilitation as their principal residence; and
(3) satisfying other requirements as may be provided in a Resolution of the Board of Estimates.
(d) Amount of credit.
A property tax credit granted under this section may not exceed the amount of City property tax imposed on the increased value of the residential real property that is due to the improvements made to the property immediately before the occupancy permit was issued, multiplied by:
(1) 100% for the 1st taxable year in which the property qualifies for the tax credit;
(2) 80% for the 2nd taxable year in which the property qualifies for the tax credit;
(3) 60% for the 3rd taxable year in which the property qualifies for the tax credit;
(4) 40% for the 4th taxable year in which the property qualifies for the tax credit;
(5) 20% for the 5th taxable year in which the property qualifies for the tax credit; and
(6) 0% for each taxable year thereafter.
(e) Applications.
(1) The owner shall file an application for this tax credit with the Director of Finance annually, on or before September 1 of the taxable year for which the credit is sought.
(2) The application for the tax credit shall contain information that the Board of Estimates considers necessary for determining the eligibility of the applicant.
(f) Rules and regulations.
Subject to Title 4 {"Administrative Procedure Act – Regulations"} of the City General Provisions Article, the Board of Estimates may adopt rules and regulations to carry out the provisions of this section.
(g) Penalties for false statement.
Any applicant who, for the purpose of obtaining a tax credit under the provisions of this section, makes a false statement on the application shall be guilty of a misdemeanor and shall be fined not more than $500.