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§ 4728.302. Exemption

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: September 9, 2022

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 4. Local Taxation (Refs & Annos)
Exemptions (Refs & Annos)
Affordable Housing Unit Tax Exemption Act
Chapter 3. Creating and Improving Affordable Housing Units in Deteriorated Areas
Effective: September 9, 2022
72 P.S. § 4728.302
§ 4728.302. Exemption
Currentness
(a) Real property tax exemption.--
(1) A local taxing authority may, by ordinance or resolution, exempt from real property taxation the assessed valuation of improvements to blighted properties for the creation of, or improvements to, affordable housing units and the assessed valuation of new construction within a deteriorated area in the amounts and in accordance with the provisions and limitations specified in this act.
(2) An ordinance or resolution under paragraph (1) shall specify a description of each deteriorated area, the cost of improvements per unit to be exempted and the schedule or taxes exempted as provided under this act.
(b) Boundaries.--Prior to the adoption of the ordinance or resolution authorizing the granting of a tax exemption under this section, a municipal corporation must designate the boundaries of the deteriorated area, wholly or partially located within its jurisdiction, if any.
(c) Public hearing.--
(1) At least one public hearing must be held by the municipal corporation for the purpose of determining the boundaries of a deteriorated area.
(2) At a public hearing under paragraph (1), the local taxing authorities, planning commission or redevelopment authority and other interested public and private agencies and individuals shall present their recommendations concerning the location of boundaries of a deteriorated area for the guidance of the municipal corporation.
(3) The public hearing shall be held in accordance with 65 Pa.C.S. Ch. 7 (relating to open meetings).
(d) Adjacent property inclusions.--Property adjacent to a deteriorated area may be included within the deteriorated area if the local taxing authority determines that new construction on the property would encourage, enhance or accelerate the development of affordable housing units.
(e) Municipal cooperation.--
(1) Two or more municipal corporations may join together for the purpose of determining the boundaries of a deteriorated area and establishing the uniform maximum cost per unit. Each municipal corporation joining together under this paragraph shall cooperate fully with each other for the purpose of implementing this act.
(2) A local taxing authority may, by implementing an ordinance or resolution, agree to adopt a tax-exemption schedule contingent upon the similar adoption by an adjacent local taxing authority or by a local taxing authority with mutual jurisdiction, within the limitations provided under this act.
(f) Rescinding deteriorated area designation.--A local taxing authority may rescind an ordinance or resolution adopted under subsection (a) if the local taxing authority determines that the tax exemption in the deteriorated area within the boundaries established under subsection (b) has accomplished the goal of creating and improving affordable housing units in the deteriorated area. Property granted tax exemption within the boundaries of the deteriorated area prior to the ordinance or resolution being rescinded shall continue to receive the tax exemption granted until the tax exemption is terminated in accordance with the exemption schedule.

Credits

2022, July 11, P.L. 703, No. 58, § 302, effective in 60 days [Sept. 9, 2022].
72 P.S. § 4728.302, PA ST 72 P.S. § 4728.302
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document