[Adopted 8-7-1984 as Ord. No. 84-2]
As used in this Article, the following words and phrases shall have the meanings set forth below:
DETERIORATED PROPERTY
Any industrial, commercial or other business property owned by an individual, association or corporation and located in the Borough of Norristown.
IMPROVEMENT
Repair, construction or reconstruction, including alterations or 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. Ordinary upkeep and maintenance shall not be deemed an "improvement." For purposes of this Article, repair or construction of buildings containing apartment units shall not constitute an "improvement" eligible for a real estate tax exemption under provisions of this Article.
LOCAL GOVERNING BODY
The Borough of Norristown.
LOCAL TAXING AUTHORITY
The Norristown Area School District, Montgomery County and the Borough of Norristown.
[Amended 6-2-1987 by Ord. No. 87-12]
A. 
Exempted area. By this Article, the Borough Council designates the entire Borough of Norristown to be eligible to participate in this tax exemption program.
B. 
Exempted buildings. By this Article, the Borough Council designates all new construction, reconstruction, repair, alterations or additions for commercial, industrial or other business properties to be eligible to participate in this tax exemption program.
A. 
The amount to be exempted shall be limited to the additional assessment valuation attributable to the actual costs of improvements to deteriorated property.
B. 
The exemption shall be limited to the improvement for which an exemption has been requested in the manner set forth below and for which a separate assessment has been made by the local taxing authority.
[Amended 12-5-1994 by Ord. No. 94-26]
A. 
The schedule of real estate taxes to be exempted shall be in accordance with the following percentages of improvements to be exempted each year, subject to a fifteen-million-dollar maximum.
Length
Portion
First year
100%
Second year
90%
Third year
80%
Fourth year
70%
Fifth year
60%
Sixth year
50%
Seventh year
40%
Eighth year
30%
Ninth year
20%
Tenth year
10%
B. 
The exemption from taxes granted under this Article shall be upon the property and shall not terminate upon the sale or exchange of the property.
A. 
There shall be placed on the form application for building, zoning and alteration permits the following:
"Notice to Taxpayers
"Under the provisions of Ordinance No. 84-2, you may be entitled to a property tax exemption on your contemplated alteration or new construction. An application for exemption may be secured from the Borough Building Inspector and must be filed with the Borough Building Inspector at the time a building or alteration permit is secured."
B. 
At the time a building or alteration permit is secured for the construction of an improvement for which an exemption is requested, the taxpayer shall apply to the Borough Building Inspector for the exemption provided for in this Article. Requests for the exemption must be made, in writing, certified in full as prescribed by this Article, setting forth the following information:
(1) 
The date the building permit or alteration permit was issued for said improvements.
(2) 
The type of improvement.
(3) 
The summary of the plan of the improvement.
(4) 
The cost of the improvement.
(5) 
Any or all such additional information required.
A copy of the request for exemption shall be forwarded by the Borough Building Inspector to the Montgomery County Board of Assessment. Upon completion of the improvement or new construction, the taxpayer shall notify the Borough Building Inspector and the Montgomery County Board of Assessment so that the Board of Assessment can make an assessment of the improvements separately for the purpose of calculating the amount of assessment eligible for the tax exemption in accordance with the limits established in this Article. The County Board of Assessment will then set the amount of assessment eligible for exemption, record the same on its assessment rolls and notify the taxpayer of the assessment eligible for exemption. Appeals from the assessment and the amount eligible for the exemption may be taken by the taxpayer or the Borough of Norristown as provided by law.
[Amended 12-5-1994 by Ord. No. 94-26]
Unless otherwise repealed by the Borough Council of the Borough of Norristown, this Article shall terminate on December 31, 2004. Nothing contained herein shall act to prohibit the Council of the Borough of Norristown from enacting a similar ordinance or extending this one.