[Adopted 3-19-1987 by Ord. No. 772]
This article is a local economic revitalization
tax assistance ordinance and shall be known and cited as the "Borough
of Monaca LERTA Ordinance."
As used in this article, the following terms
shall have the meanings indicated:
Any industrial, commercial or other business property owned
by an individual, association or corporation which is located in an
investment opportunity area, as hereinafter provided.
A dwelling unit within a commercial/ residential structure
which is located in an investment opportunity area, as hereinafter
provided.
One or more rooms for living purposes, together with separate
cooking and sanitary facilities, used or intended to be used by one
or more persons living together and maintaining a common household
and accessible from the outdoors either directly or through an entrance
hall shared with other dwelling units.
Repair, construction or reconstruction, including alterations
and additions, having the effect of rehabilitating a deteriorated
property so that it becomes habitable or attains higher standards
of safety, health, economic use or amenity or is brought into compliance
with laws, ordinances or regulations governing such standards and
increases its assessment. Ordinary upkeep and maintenance shall not
be deemed an improvement.
That area recommended as the proposed LERTA District.[1]
The Borough of Monaca.
[1]
Editor's Note: The map delineating this district
is on file in the Borough offices.
[Amended 7-12-2005 by Ord. No. 884]
The specific properties encompassing the Borough
of Monaca LERTA District, and defined as the “investment opportunity
area,” are delineated in the attached map,[1] and any subsequent changes to these properties by replotting
of lot lines or subdivision into smaller lots shall also be included
in the Borough of Monaca investment opportunity area.
[1]
Editor's Note: Said map is on file in the Borough offices.
A.
The exemption from real property taxes shall be limited
to:
B.
In all cases, the exemption from real property taxes
shall be limited to that portion of the additional assessment to the
improvements, as the case may be, for which a separate assessment
has been made by the Beaver County assessment office and for which
an exemption has been separately requested. No tax exemption shall
be granted if the owner does not secure the necessary and proper permits
prior to improving the property. No tax exemption shall be granted
if the property as completed does not comply with the minimum standards
of the Zoning Ordinance, Subdivision Ordinance[1] and other codes of the Borough of Monaca.
C.
In any case after the adoption of this article, where
deteriorated commercial property or deteriorated multiunit/commercial
property is damaged, destroyed or demolished, by any cause or for
any reason, including the building or erection of new construction,
and the assessed valuation of the property affected has been reduced
as a result of said damage, destruction or demolition, the exemption
from real property taxation authorized by this article shall be limited
to that portion of new assessment attributable to the actual cost
of improvements or construction that is in excess of the original
assessment that existed prior to damage, destruction or demolition
of the property.
A.
The schedule of exemption from real property taxes
shall apply for a five-year period. For the first five years during
which the improvement becomes assessable, the following shall apply:
|
Year
|
Percent of Exemption
| |
|---|---|---|
|
First
|
100
| |
|
Second
|
80
| |
|
Third
|
60
| |
|
Fourth
|
40
| |
|
Fifth
|
20
|
B.
The exemption from taxes granted under this article
upon a property shall not terminate upon the sale or exchange of the
property.
C.
If an eligible improvement is granted tax exemption
pursuant to this article, the improvement shall not, during the exemption
period, be considered as a factor in assessing either other subsequent
improvements to the same property or other properties.
A.
Any persons desiring tax exemption pursuant to this
article should apply to the Borough of Monaca at the time a building
permit is secured for construction of the improvement or new residential
construction, as the case may be. The application must be in writing,
upon forms specified by the Borough of Monaca, setting forth the following
information:
(1)
The date the building permit was issued for said improvement.
(2)
The location of property to be improved.
(3)
The nature of the property to be improved.
(4)
Type of improvements (commercial, residential or both).
(5)
The summary of the plan of the improvements.
(6)
The cost of improvements.
(7)
Whether the property has been condemned by any governmental
body for noncompliance to laws or ordinances.
(8)
Verification that the property has been inspected
by the Zoning Officer of the Borough of Monaca and other additional
information as may be required.
B.
There shall be on the application form for a building
permit the following notice:
|
Note to Taxpayer: By the Borough of Monaca ordinance
1987, you may be entitled to exemption from tax on your contemplated
improvement by reassessment. An application for exemption may be secured
from the Zoning Officer or other properly designated official and
must be filed at the time the building permit is secured.
|
C.
A copy of the exemption request shall be forwarded
to the Beaver County assessment office by the Zoning Officer. The
assessment office shall determine whether the exemption shall be granted
and shall, upon completion of the improvements, assess the improvements
and shall otherwise perform its duties as above provided for construction
of improvements to residential and commercial properties.
D.
Appeals from the reassessment and the amount eligible
for the exemption may be taken by the Borough of Monaca or by the
taxpayer as provided by law.
