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File #: 160201    Version: 0 Name:
Type: Bill Status: IN COMMITTEE
File created: 3/10/2016 In control: Committee on Finance
On agenda: Final action:
Title: Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," by amending Chapter 19-1300, entitled "Real Estate Taxes," to modify the terms of some abatements, under certain terms and conditions.
Sponsors: Councilmember Domb, Councilmember Jones
Indexes: REAL ESTATE TAX
Code sections: 19-1300 - Real Estate Taxes, Title 19 - FINANCE, TAXES AND COLLECTIONS
Attachments: 1. Bill No. 16020100.pdf
Title
Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," by amending Chapter 19-1300, entitled "Real Estate Taxes," to modify the terms of some abatements, under certain terms and conditions.

Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-1300 of The Philadelphia Code is hereby amended as follows:

CHAPTER 19-1300. REAL ESTATE TAXES.

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§ 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 one or more dwelling units located in an eligible neighborhood; 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.] Reasonable price eligible residential property shall be any eligible residential property with an assessed value equal to or less than $250,000 in the tax year before the improvements.

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E. Exemption Schedule.

(1) The assessable amount of the improvement costs shall be exempted from real estate taxes for ten (10) years. The exemption shall commence for the first year for which improvements would otherwise be taxable. After the tenth year, the exemption shall terminate. Notwithstanding the foregoing, in the case of a reasonable price eligible residential property, the exemption period shall be twenty (20) years, after which the exemption shall terminate.


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§ 19-1303(4). Authorization to Offer Exemption from Real...

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