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§ 4728.305. Eligibility requirements

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. § 4728.305
§ 4728.305. Eligibility requirements
Currentness
(a) General rule.--The completed new construction or improvement must:
(1) Conform to zoning ordinance requirements.
(2) Increase the value of the property by at least 25%.
(3) Correct each municipal code violation.
(b) Ineligibility.--A property shall be ineligible for tax exemption under section 304(a)1 if:
(1) The property receives other property tax abatement or exemption incentives for new construction or improvement.
(2) The property receives tax relief through a State program, except as provided under subsection (d).
(3) The property owner or developer is delinquent on property taxes related to the subject property, except if the delinquent taxes are paid prior to construction or payment of delinquent taxes has been arranged with the local taxing authority in accordance with an installment plan.
(4) The property owner has a legal or equitable interest in other property for which property taxes are delinquent, except if the delinquent taxes are paid prior to construction or payment of delinquent taxes has been arranged with the local taxing authority in accordance with an installment plan.
(5) New construction or improvement has commenced prior to filing an application under section 304.
(c) Exception.--The amount of assessment eligible for exemption under this act shall be offset by the amount of property tax rebate received under Chapter 13 of the Taxpayer Relief Act.2
(d) Limitations.--The property qualifying and receiving a tax exemption under this chapter shall be ineligible for or receive additional tax exemptions under the act of July 9, 1971 (P.L. 206, No. 34),3 known as the Improvement of Deteriorating Real Property or Areas Tax Exemption Act, and the act of December 1, 1977 (P.L. 237, No. 76),4 known as the Local Economic Revitalization Tax Assistance Act, for a minimum of 15 years from the date the property received a tax exemption under this chapter.
(e) Prohibitions.--For the period of time that a property receives a tax exemption under this chapter, a purchase or sale of the property or any portion of the property may not be structured to exclude or exempt the transaction from a realty transfer tax due to a taxing authority that would not be excluded or exempt, except for the following:
(1) A sheriff sale or tax claim bureau sale.
(2) A corrective deed.
(3) A transfer by a mortgagor to the holder of a bona fide mortgage in default in lieu of a foreclosure.
(4) A transfer to a judicial sale in which the successful bidder is the bona fide holder of a mortgage.
(5) A transaction excluded from the realty transfer tax under Article XI-C of the Tax Reform Code of 1971.5

Credits

2022, July 11, P.L. 703, No. 58, § 305, effective in 60 days [Sept. 9, 2022].

Footnotes

1
72 P.S. § 4728.304.
2
53 P.S. § 6926.1301 et seq.
3
72 P.S. § 4711-101 et seq.
4
72 P.S. § 4722 et seq.
5
72 P.S. § 8101-C et seq.
72 P.S. § 4728.305, PA ST 72 P.S. § 4728.305
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document