Title
Amending Chapter 19-2500 of The Philadelphia Code, entitled Real Estate Non-Utilization Tax, by clarifying and amending the tax on abandoned property and vacant lots; and by changing certain tax rates; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-2500 of The Philadelphia Code is amended to read as follows:
CHAPTER 19-2500. REAL ESTATE NON-UTILIZATION TAX
* * *
§19-2504. Rate of Tax.
* * *
(2) (a) The tax authorized by this Chapter for abandoned property for any privilege year commencing January 1, 2001, or thereafter shall be measured by the assessed value of the real estate at the rate of [five] ten percent of the assessed value of the real estate as most recently returned by the Board of Revision of Taxes.
(b) The tax authorized by this Chapter for vacant lots for any privilege year commencing January 1, 2001, or thereafter shall be measured by the assessed value of the real estate at the rate of ten percent of the assessed value of the real estate as most recently returned by the Board of Revision of Taxes.
* * *
______________________
Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
End