Borough of Milton, PA Article VII Exemption for Property in Keystone Opportunity Zone

[Adopted 8-11-1999 by Ord. No. 1108]

§ 219-41 Exemption granted.

Real property tax in the proposed Keystone Opportunity Zone is exempt in accordance with the provisions and limitations hereinafter set forth within the boundaries of the proposed Keystone Opportunity Zone in accordance with the Act[1] for a period of 12 years, commencing January 1, 1999.

[1] Editor's Note: See the Keystone Opportunity Zone Act, 73 P.S. § 820.101 et seq.

§ 219-42 Amount of exemption.

The exemption shall be 100% of the real property taxation on the assessed valuation of property within the proposed Keystone Opportunity Zone.

§ 219-43 Local earned income, net profits, business privilege taxes exempted.

Milton Borough also waives business gross receipts tax for operations conducted by a qualified business, earned income received by a resident and/or net profits of a qualified business received by a resident or nonresident of the proposed Keystone Opportunity Zone attributable to business activity conducted within the proposed Keystone Opportunity Zone.

§ 219-44 Incorporation of other provisions.

The provisions of the Act not herein enumerated shall, nevertheless, be incorporated as part of this article by reference.

§ 219-45 Effective date.

This article shall become effective immediately upon January 1, 1999, contingent and conditioned only upon the prior approval by the Department of Community and Economic Development (DCED) of the application with respect to the proposed Keystone Opportunity Zone.