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File #: 160012    Version: Name:
Type: Bill Status: ENACTED
File created: 1/21/2016 In control: Committee on Finance
On agenda: Final action: 3/17/2016
Title: Amending Chapter 19-3900 of The Philadelphia Code, entitled "Tax Exemptions for Longtime Owner-Occupants of Residential Properties," by extending the time for which such exemptions are available, under certain terms and conditions.
Sponsors: Councilmember Johnson, Councilmember Squilla
Indexes: TAX EXEMPTIONS FOR LONGTIME OWNER-OCCUPANTS OF RESIDENTIAL PROPERTIES
Attachments: 1. CertifiedCopy16001201.pdf
Date Ver.Action ByActionResultTallyAction DetailsVideo
3/29/20161 MAYOR SIGNED   Action details Not available
3/17/20161 CITY COUNCIL READ AND PASSEDPass17:0 Action details Not available
3/10/20161 CITY COUNCIL ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR   Action details Not available
3/10/20161 CITY COUNCIL SUSPEND THE RULES OF THE COUNCIL   Action details Not available
3/9/20160 Committee on Finance HEARING NOTICES SENT   Action details Not available
3/9/20160 Committee on Finance HEARING HELD   Action details Not available
3/9/20160 Committee on Finance AMENDED   Action details Not available
3/9/20161 Committee on Finance REPORTED FAVORABLY, RULE SUSPENSION REQUESTED   Action details Not available
1/21/20160 CITY COUNCIL Introduced and ReferredPass  Action details Not available
Title
Amending Chapter 19-3900 of The Philadelphia Code, entitled "Tax Exemptions for Longtime Owner-Occupants of Residential Properties," by extending the time for which such exemptions are available, under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-3900 of The Philadelphia Code is hereby amended to read as follows:

CHAPTER 19-3900. TAX EXEMPTIONS FOR LONGTIME OWNER-OCCUPANTS OF RESIDENTIAL PROPERTIES.

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§ 19-3902. Definitions.

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(6) "Income." As defined at 24 Code of Federal Regulations (CFR) Section 5.609 (referred to as "Part 5 annual income").

(7) "Low-income longtime owner-occupant." A longtime owner-occupant whose total household income is less than or equal to eighty percent (80%) of the Area Median Income, adjusted for household size, as established by the U.S. Department of Housing and Urban Development in its most recent publication for Philadelphia County.

§ 19-3903. Eligibility for Exemption of Real Property Taxes.

(1) Real property shall be eligible for the exemptions provided for under this Chapter if it meets all of the following conditions:

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(f) [The] For the first ten years, the total household income is less than or equal to one hundred fifty percent (150%) of the Area Median Income, adjusted for household size, as established by the U.S. Department of Housing and Urban Development in its most recent publication for Philadelphia County. For any tax year after the first ten years, the long-time owner-occupant must qualify as a low-income longtime owner-occupant.

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§ 19-3905. Benefit Determinations.

(1) For purposes of calculating City and School District real estate taxes, upon application pursuant to subsection (2), below, if the certified market value of an eligible property for any tax year, minus any homestead exclusion, is more than three times the certified m...

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