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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 providing for additional abatements in certain depressed areas of the City, all under certain terms and conditions.

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File details

Status
LAPSED
Type
Bill
Introduced
February 25, 2010
Sponsors
CDCouncilmember DiCiccoCKCouncilmember KenneyCCCouncilmember Clarke

Full Bill

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.

* * *

B. Definitions.

* * *

(7) Depressed Area. An area of the City which Council, by ordinance, determines to be significantly more in need of economic stimulus than other areas of the City.

* * *

E. Exemption Schedule.

(1) One hundred percent of the assessable amount of the construction costs shall be exempted from real estate taxes for a period of ten years

, or, in the case of an exemption granted in a Depressed Area, fifteen 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 tenth year,

or, in the case of an exemption granted in a Depressed Area, the fifteenth year,

the exemption shall terminate.

* * *

SECTION 2. Effective Date; Application. This Ordinance shall take effect upon the effective date of legislation enacted by the General Assembly to authorize the fifteen year abatement provided by 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:

Italics

indicate new matter added.

End

Timeline

File history

A file can move through several public steps, including introduction, hearings, amendments, votes and final action. This timeline puts those events in date order, groups routine entries from the same day, and attaches published member votes to the action they record.

  1. UnanimousCITY COUNCIL

    Introduced

    Marked unanimous; no member-by-member tally published.

    Pass
    Official action detail

    A motion was made by Councilmember DiCicco that this matter be Introduced. The motion carried unanimously.

    Source: LegislationDetail.aspx · gridLegislation

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