[Adopted 8-8-2017 by Ord.
No. 434]
As used in this article, the following words and phrases shall
have the meaning set forth below:
Local Economic Revitalization Tax Assistance Act of the Commonwealth,
Act No. 1977-76, as amended.[1]
The value of a parcel of real property as established by
the Office of Property Assessment of the County of Bucks for the purpose
of the assessment and levy of real property upon which the building
is located.
Borough of Chalfont, Bucks County, Pennsylvania, acting by
and through its Borough Council, or acting by and through its authorized
representatives.
The Borough Council of the Borough of Chalfont;
A property or structure primarily used for business purposes,
specifically excluding no-impact home-based businesses;
The Commonwealth of Pennsylvania;
County of Bucks, Pennsylvania, acting by and through its
Board of County Commissioners, or acting by and through its authorized
representatives.
The area within the Borough identified in this article.
Any industrial, commercial or other business property located
in the designated area.
Repair, construction, or reconstruction, including alterations
and additions, having the effect of rehabilitating any industrial,
commercial or other business property owned by any individual, association
or corporation and located in the designated area; improvement does
not include any ordinary upkeep or maintenance.
The Borough of Chalfont, the County of Bucks, and the Central
Bucks School District.
Any individual, partnership, company, association, society,
trust, corporation, municipality, municipal authority, or other group
or entity.
Central Bucks School District, Bucks County, Pennsylvania,
acting by its Board of School Directors, or, in appropriate cases,
acting by and through its authorized representatives.
[1]
Editor's Note: See 72 P.S. § 4722 et seq.
A.
The Borough does hereby designate the area within the following boundaries
as determined within the meaning of the Act, and one in which the
local taxing authorities may grant a tax exemption pursuant to the
provisions of the Act: all properties listed in Exhibit A.[1]
[1]
Editor's Note: Said exhibit is on file in the Borough offices.
B.
Any discrepancy between the description of the designated area in
this section and the area designated in the LERTA district resolution
shall be resolved in favor of the LERTA district resolution, it being
the intent of the Borough to grant exemption to all new construction
and improvements to eligible property within the area designated by
the resolution.
A.
There is hereby exempted from all real estate property taxes that
portion of additional assessment attributable to the actual costs
of new construction or improvements to eligible property for which
proper application has been made in accordance with this article.
B.
The exemption authorized by this article shall be in accordance with
the provisions and limitations hereinafter set forth.
C.
The schedule of real property taxes to be exempted shall be in accordance
with the following percentage of the assessed valuation of new construction
or improvements to eligible property:
|
Tax Year(s) Following Completion of Construction
|
Exemption Portion of Assessed Valuation
|
|---|---|
|
1
|
100%
|
|
2
|
100%
|
|
3
|
100%
|
|
4
|
100%
|
|
5
|
100%
|
D.
A tax exemption granted under this article shall become effective
for a five-year period from the date of issuance of a building permit
for any improvements.
E.
A tax exemption granted under this article shall not terminate upon
the sale or exchange of the property.
F.
Any person who is an owner of eligible property and who desires tax
exemption pursuant to this article shall apply, in writing, for such
exemption on a form to be provided by the Borough at the principal
office of the Borough; it must be received by the Borough within 60
days following the date of issuance of a building permit for any new
construction or improvements.
G.
The Borough shall make available to any person desiring to apply
for a tax exemption in accordance with this article an application
form (the "application") which shall require such person to supply
the following information:
(1)
The name of the owner or owners of the eligible property;
(2)
The location of the eligible property, including the tax parcel identification
number assigned to such property for real property tax purposes;
(3)
The type of new construction or improvements to be made on the eligible
property;
(4)
The nature of the improvements to be made on the eligible property;
(5)
The date on which the relevant building permit was issued, the date
on which construction commenced or the estimated date on which it
shall commence;
(6)
The cost or estimated cost of the new construction or improvements;
(7)
Such additional information as the Borough may reasonably require.
H.
The appropriate official of the Borough shall forward a copy of such
completed application to the county and school district within 30
days following the date on which such application is filed.
I.
The cost of new construction or improvements to be exempted and the
schedule of taxes exempted at the time of an initial request for tax
exemption made in accordance with the provisions of this article shall
be applicable to that exemption request, and any subsequent amendment
to this article, if any, shall not apply to applications filed with
the Borough prior to their adoption.
The provisions of this article shall expire upon the sixth anniversary
of its enactment, unless extended by ordinance duly adopted. Any property
tax exemptions granted under the provisions of this article shall
be permitted to continue according to the exemption schedule, even
if this article expires or is repealed.
