Property Taxes 

(i)   is subject to a perpetual conservation easement donated to the Maryland Environmental Trust on or before June 30, 1986; and

(ii)   is not eligible for a credit under § 9-107 of this title.

(2)   The Mayor and City Council of Baltimore City shall provide, by law, for:

(i)   the amount and duration of the property tax credit under this section; and

(ii)   any other provisions necessary to carry out the property tax credit under this section.

(b)   The Mayor and City Council of Baltimore City may grant, by law, a property tax credit under this section against the county property tax imposed on:

(1)   real property that is leased, occupied, and used only by the Baltimore Association for Retarded Citizens, Incorporated;

(2)   personal property that is owned by the Northwest Family Sport Center, Inc.; and

(3)   property that is:

(i)   owned by the South Baltimore Little League;

(ii)   located at 1101 E. Fort Avenue, Baltimore, Maryland; and

(iii)   used for amateur sports.

(c)    (1)   In this subsection, "vacant dwelling" means residential real property that:

(i)   contains no more than four dwelling units; and

(ii)    1.   has been cited as vacant and abandoned on a housing or building violation notice for 1 year; or

2.   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.

(2)   The Mayor and City Council of Baltimore City may grant, by law, a property tax credit under this subsection against the county property tax imposed on real property that is owned by qualifying owners of vacant dwellings.

(3)   A property tax credit granted under this subsection may not exceed the amount of county 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:

(i)   100% for the first taxable year in which the property qualifies for the tax credit;

(ii)   80% for the second taxable year in which the property qualifies for the tax credit;

(iii)   60% for the third taxable year in which the property qualifies for the tax credit;

(iv)   40% for the fourth taxable year in which the property qualifies for the tax credit;

(v)   20% for the fifth taxable year in which the property qualifies for the tax credit; and

(vi)   0% for each taxable year thereafter.

(4)   Owners of vacant dwellings may qualify for the tax credit authorized by this subsection by: