Description
Title: Property Tax - Child Care Centers, Family Child Care Homes, and Large Family Child Care Homes For the purpose of creating real property tax credits for child care providers who own the property where they operate a state-licensed or registered child care center, family child care home, or large family child care home; allowing businesses of a certain size that own their property and have on-site child care facilities to participate in the tax credit program; setting the real property tax credit at a maximum of $10,000; and generally related to tax credits for child care providers.????????????
Summary
Ordinance O-1-26 proposed by the Annapolis City Council aims to establish property tax credits for child care providers who own the property where they operate state-licensed or registered child care facilities, including family child care homes and large family child care homes. The legislation allows businesses with at least 25 employees that own their property and provide on-site child care to also qualify for these credits. The maximum tax credit is set at $10,000 per year, designed to support child care providers and encourage the establishment of child care facilities in Annapolis. This ordinance is significant as it addresses local child care needs, potentially benefiting around 85 centers while impacting city revenue by up to $85,000 annually.