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Amending Section 19-1303(2) of The Philadelphia Code, entitled “Authorization to Offer Exemption from Real Estate Taxes on Improvements to Residential Properties,” by amending the definition of eligible residential property, and by providing that the exemption from real estate taxes shall be for the entire portion of the additional assessment attributable to the actual cost of improvements to eligible property, all under certain terms and conditions.
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THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Section 19-1303(2) of The Philadelphia Code is hereby amended to read as follows:
§19-1303(2). Authorization to Offer Exemption from Real Estate Taxes on Improvements to Residential Properties.
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C. Definitions.
(1) In this Section the following definitions shall apply:
(a) Eligible residential property shall be any property containing [not more than three (3) dwelling units, one of which is owner occupied] one or more dwelling units located in an eligible neighborhood, [and having an assessed building value of less than $61,800 per dwelling unit;] or any property containing one or more dwelling units which has been, or, upon request, is, certified by the Department of Licenses and Inspections or by the Department of Health as unfit for human habitation; or any property containing one or more dwelling units which has been the subject of any order to be vacated, condemned, or demolished by reason of noncompliance with laws, ordinances, or regulations of the City of Philadelphia.
(b) Reserved. [Assessed building value per dwelling unit shall be the building assessment of record at the time of application for abatement, divided by the number of legal dwelling units in the building.]
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D. Exemption Amount.
(1) The exemption from real estate taxes shall be limited to that portion of the additional assessment attributable to the actual cost of improvements to eligible property. [, not in excess of the maximum cost per dwelling unit authorized by Section 203(b) of the Improvement of Deteriorating Real Property or Areas Tax Exemption Act. 72 P.S. § 4711-203(b). The maximum cost shall be forty-one thousand two hundred dollars ($41,200) per dwelling unit for improvements constructed in 1997. For each year thereafter the Board of Revision of Taxes shall determine the maximum cost per dwelling unit as authorized by Section 203(b) of the Improvement of Deteriorating Real Property or Areas Tax Exemption Act. 72 P.S. § 4711-203(b).]
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SECTION 2. Effective Date; Application. This Ordinance shall take effect immediately, and shall apply only to exemptions for which application is made to the Board of Revision of Taxes on or after such effective date.
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Explanation:
[Brackets] indicates matter deleted.
Italics indicate new matter added.
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