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Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by modifying the amount of certain tax abatements, all under certain terms and conditions.

AI summary

This enacted law changes Philadelphia’s real estate tax abatements for improvements to deteriorated industrial, commercial, and other business properties. Applications filed by December 31, 2021, receive a 100% exemption on eligible improvement costs for 10 years, while later applications receive a 90% exemption for 10 years; the exemption begins the tax year after the initial certificate of occupancy and remains with the property if it is sold or exchanged.

File details

Status
ENACTED
Introduced
November 19, 2020
Sponsors
Darrell L. ClarkeCherelle Parker
View official record ↗

Full text

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. Chapter 19-1300 of The Philadelphia Code is hereby amended as follows:

CHAPTER 19-1300. REAL ESTATE TAXES

§ 19-1303.3. Authorization to Offer Exemptions from Real Estate Taxes on Improvements to Deteriorated Industrial, Commercial or Other Business Properties.

(b)

Exemption schedule.

(.1)

With

respect to applications for exemption initially applied for on or before December 31, 2021,

the

[

The] assessable amount of the improvement costs shall be exempted from real estate taxes for ten (10) years.

With respect to applications for exemption initially applied for after December 31, 2021, ninety percent (90%) of the assessable amount of the improvement costs shall be exempted from real estate taxes for ten years.

The exemption shall commence in the tax year immediately following the year in which the initial certificate of occupancy for the property is issued. After the tenth year, the exemption shall terminate.

(.2) The exemption from taxes granted under this ordinance shall be upon the property and shall not terminate upon the sale or exchange of the property.

___________________________________

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. CITY COUNCIL

    Details not published

    No details have been published for this item. Legistar notes that this meeting's minutes have not been finalized.
  3. Council actionCITY COUNCIL

    Read and ordered placed on next week's second reading calendar

    Council actionCITY COUNCIL

    Ordered placed on this day`s first reading calendar

    Council actionCITY COUNCIL

    Suspend the rules of the council

  4. Council actionCommittee of the Whole

    Reported favorably, rule suspension requested

    Council actionCommittee of the Whole

    Amended

    Council actionCommittee of the Whole

    Hearing held

    Council actionCommittee of the Whole

    Hearing notices sent

  5. Council actionCITY COUNCIL

    Introduced and Referred