As used in this article, the following terms shall have the
meanings indicated:
ACT
Collectively and individually, the Local Economic Revitalization
Tax Assistance Act of the Commonwealth, as amended, and the Improvement of Deteriorating Real
Property or Areas Tax Exemption Act, as amended.
BOROUGH
The Borough of Lansdale, Montgomery County, Pennsylvania,
acting by and through its Borough Council or, in appropriate cases,
acting by and through its authorized representatives.
COUNTY
The County of Montgomery, Pennsylvania, acting by and through
its Board of County Commissioners or, in appropriate cases, acting
by and through its authorized representatives.
IMPROVEMENT
Repair, construction or reconstruction, including alterations
or additions, having the effect of rehabilitating property in a deteriorating
area, 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.
SCHOOL DISTRICT
North Penn School District, Montgomery County, Pennsylvania,
acting by and through its Board of School Directors or, in appropriate
cases, acting by and through its authorized representatives.
The following areas within the Borough of Lansdale are determined
by the Borough Council to be eligible for tax exemption under the
Local Economic Revitalization Tax Assistance Act and/or the Improvement
of Deteriorating Real Property or Areas Tax Exemption Act:
Address
|
Parcel Identification Number
|
---|
117 South Broad Street
|
11-00-00956-00-5
|
117 South Broad Street
|
11-00-00916-00-9
|
The amount to be exempted from real estate taxes is limited
to that portion of the additional tax assessment attributable to the
actual cost of the new construction or improvement in accordance with
the exemption schedule established by this article. A tax exemption
granted under this article will first apply in the tax year of the
applicable local taxing authority immediately following the tax year
in which the eligible new construction or improvements are completed.
Nothing herein limits or prohibits the levy of interim real property
taxes upon new construction or improvements prior to completion thereof.
A tax exemption granted hereunder will not terminate upon the sale
or exchange of the exempted property. If an eligible property is granted
a tax exemption pursuant to this article, the new construction or
improvements shall not, during the exemption period, be considered
as comparable in assessing other properties.
The exemption schedule is as follows:
Year
|
Percentage of Abatement
|
---|
First
|
100%
|
Second
|
80%
|
Third
|
60%
|
Fourth
|
40%
|
Fifth
|
20%
|
Sixth
|
0%
|
Appeals from the reassessment of an eligible property and the
amounts eligible for exemption may be taken by the property owner
or a local taxing authority as provided by law.
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 further provisions of
the article shall be applicable to that exemption request, and any
subsequent amendment to this article, if any, shall not apply to applications
filed with this local taxing authority prior to their adoption.
Disqualifying events include the following:
A. Any property owner who elects to appeal the assessed value of a property
qualifying under LERTA during any exemption period granted shall be
deemed to be disqualified from participating in the LERTA program
upon the filing of such an appeal to the Board of Assessment.
B. Any property owner who fails to pay when due any and all nonexempt
real estate taxes, together with water/sewer rents relating to a property-tax-exempt
property under this article or any other property owned by the same
property owner within the Borough.
C. Any other matter that is determined by the Borough to be in contravention
of this article.