(a) General. The purpose of this tax exemption is to enable non-profit organizations to maintain historic structures that are open to the public. An application for a determination of eligibility and an application for a letter of verification are required. City council review under Subsection 51A-11.201(e) and rehabilitation of the property are not required.
(b) Tax exemption based upon non-profit status.
(1) Eligibility for tax exemption. To be eligible for this tax exemption:
(A) the property must be a contributing structure within a historic district;
(B) the property must be designated as a recorded Texas historic landmark or a state archeological landmark;
(C) the property must be operated by a non-profit organization that qualifies for tax exemption under Section 501(c)(3) of the Internal Revenue Code;
(D) the property must be open and available to the general public for tours or use at least 20 hours per month; and
(E) any income generated by public use of the historic property is reinvested into maintenance of the historic property or into philanthropic efforts in Dallas.
(2) Value and duration.
(A) One hundred percent of the historic property’s value is exempt from city property tax.
(B) The tax exemption will begin as soon as possible after verification and continue for as long as the property meets the requirements of this section.
(C) The tax exemption will cease if the property is no longer operated by a non-profit organization that qualifies for tax exemption under Section 501(c)(3) of the Internal Revenue Code or if the property is no longer open to the public. (Ord. 27016)