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Amending Section 19-1303(4) of The Philadelphia Code, entitled "Authorization to Offer Exemption from Real Estate Taxes on New Construction of Residential Properties," by changing the exemption schedule for new construction of residential properties, and repealing Bill No. 970214 (approved December 9, 1999), which also amended Section 19-1303(4), but has not yet taken effect, all under certain terms and conditions.

AI summary

The enacted ordinance would change Philadelphia’s real estate tax exemption for eligible new residential construction from three years to ten years, covering 100% of the assessable construction costs. This change will take effect only if later state legislation authorizes it and will apply to exemption applications filed after that date; the ordinance immediately repeals a 1999 bill that had not taken effect.

File details

Status
ENACTED
Introduced
April 13, 2000
Sponsors
FJFrank J. DiCicco
View official record ↗

Full text

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Section 19-1303(4) of The Philadelphia Code is hereby amended to read as follows:

§19-1303(4). Authorization to Offer Exemption from Real Estate Taxes on New Construction of Residential Properties.

E.

Exemption Schedule.

(1)

One hundred percent of the assessable amount of the construction costs shall be exempted from real estate taxes for [thirty-six (36) consecutive months (the three (3) full years)]

a period of ten years

immediately following the date on which settlement is made, and a required certificate of use and occupancy is issued on an eligible dwelling unit. After the [third]

tenth

year, the exemption shall terminate.

SECTION 2. Bill No. 970214 (approved December 9, 1999), entitled “An Ordinance amending Section 19-1303(4) of The Philadelphia Code, entitled ‘Authorization to Offer Exemption from Real estate Taxes on New Construction of Residential Properties,’ by changing the period of the exemption from three years to ten years, under certain terms and conditions,” which has not yet taken effect, is hereby repealed.

SECTION 3. Effective Date; Application. Section 2 of this Ordinance shall take effect immediately. Section 1 of this Ordinance shall take effect upon the effective date of state legislation enacted subsequent to the enactment of this Ordinance authorizing this Ordinance,

and shall apply only to exemptions for which application is made to the Board of Revision of Taxes on or after such effective date.

___________________________________

Explanation:

[Brackets] indicate matter deleted.

Italics

indicate new matter added.

End

File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.
  1. Council actionMAYOR

    Signed

  2. Council actionCITY COUNCIL

    Read

  3. Council actionCITY COUNCIL

    Ordered placed on next week`s second reading calendar

    Council actionCITY COUNCIL

    Suspend the rules of the council

    Pass
    Council actionCITY COUNCIL

    Ordered placed on this day`s first reading calendar

  4. Council actionCommittee on Finance

    Reported favorably, rule suspension requested

    Council actionCommittee on Finance

    Hearing held

  5. Council actionCITY COUNCIL

    Referred

    Council actionCITY COUNCIL

    Introduced

    Pass