[Adopted 1-6-2020 by Ord. No. 785[1]]
[1]
Editor's Note: This ordinance also superseded
former Art. VII, Construction of New Dwellings Real Estate Tax Exemption,
adopted 4-10-2017 by Ord. No. 775.
As used in this article, the following terms shall have the
meanings indicated:
Shall have the same definition, for the purposes of this
article, as that set forth in Section 301 of the Act.[1]
Shall have the same definition, for the purposes of this
article, as that set forth in Section 301 of the Act.[2]
Shall have the same definition, for the purposes of this
article, as that set forth in Section 301 of the Act.[3]
There is hereby exempted from real estate taxation, for a period
of 36 months, that portion, subject to the maximum hereinafter set
forth, of any assessed valuation set by the Westmoreland County Board
of Tax Assessment attributable to and resulting from, new residential
construction. The exemption from real estate taxation is hereby limited
to that portion of the assessed valuation attributable to the first
$200,000 in actual cost of construction of a new dwelling unit; no
exemption shall be applied to that portion of the assessed valuation
attributable to actual cost of construction in excess of $200,000.
The thirty-six-month period for tax exemption shall commence
during the month when the Westmoreland County Board of Assessment
Appeals places an improvement on the tax rolls.
No improvement shall be exempt from real estate taxation unless
the owner of the subject real estate shall have first acquired a zoning
and a building permit and submitted a completed application for exemption
of a form available from the Borough Secretary of the Borough of Derry.
This article shall be effective for all applications for exemption
properly completed and filed with the Borough Secretary of the Borough
of Derry from and after the enactment of this article through December
31, 2022, and any improvement completed pursuant to a timely filed
application for exemption shall be exempt from real estate taxation
for the full period of 36 months even though the improvements may
not be completed prior to December 31, 2022, or the thirty-six-month
period may extend beyond December 31, 2022.[1]
