Title
Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," by adding a new Chapter providing for the exclusion from real estate taxes of a portion of the assessed value of homestead property; all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS
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CHAPTER 19-3500. HOMESTEAD EXEMPTION
§19-3501. Definitions.
(1) Assessment Year. The calendar year prior to the Tax Year.
(2) Board. The Board of Revision of Taxes.
(3) Domicile. As defined in 53 Pa.C.S. §8401.
(4) Homestead. A dwelling, including the parcel of land on which the dwelling is located and the other improvements located on the parcel, for which any of the following apply:
(a) The dwelling is primarily used as the domicile of an owner who is a natural person. The homestead for real property qualifying under this subsection shall not include the land on which the dwelling is located if the land is not owned by a person who owns the dwelling.
(b) The dwelling is a unit in a condominium as the term is defined in 68 Pa.C.S. § 3103 (relating to definitions) and the unit is primarily used as the domicile of a natural person who is an owner of the unit; or the dwelling is a unit in a cooperative as the term is defined in 68 Pa.C.S. § 4103 (relating to definitions) and the unit is primarily used as the domicile of a natural person who is an owner of the unit. The homestead for a unit in a condominium or a cooperative shall be limited to the assessed value of the unit, which shall be determined in a manner consistent with the assessment of real property taxes on those units under 68 Pa.C.S. (relating to real and personal property) or as otherwise provided by law. If the unit is not separately assessed for real property taxes, the homestead shall be a pro rata share of the real property....
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