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Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by reducing the amount of real estate taxes to be exempted for certain improvements to, or construction of, certain residential, commercial, industrial or other business properties; and by reducing the duration of such exemptions; all under certain terms and conditions.

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File details

Status
LAPSED
Type
Bill
Introduced
January 24, 2019
Sponsors
CGCouncilmember Gym

Full Bill

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-1300 of The Philadelphia Code is amended to read 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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D.

Exemption Amount.

(1)

The exemption from real estate taxes shall be limited to that portion of the additional assessment attributable to the actual cost of improvements to eligible property.

For a dwelling unit, the total amount of the additional assessment that may be exempted from real estate taxes shall not exceed the Federal Housing Administration mortgage limit for a one-family dwelling in Philadelphia County, applicable for the calendar year in which the exemption application is filed.

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

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D.

Exemption Amount.

(1)

The exemption from real estate taxes shall be limited to that portion of the assessment valuation attributable to the cost of construction of the new eligible dwelling unit.

For a dwelling unit, the total amount of the assessment attributable to the cost of construction that may be exempted from real estate taxes

shall not exceed the Federal Housing Administration mortgage limit for a one-family dwelling in Philadelphia County, applicable for the calendar year in which the exemption application is filed.

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SECTION 2. This Ordinance shall be effective with respect to applications for exemption filed on or after July 1, 2019.

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Explanation:

[Brackets] indicate matter deleted.

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. ProceduralCITY COUNCIL

    Introduced and Referred

    Official action detail

    This Bill was Introduced and Referred.to the Committee on Finance

    Source: LegislationDetail.aspx · gridLegislation

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