[Adopted 12-10-2024 by Ord. No. 816[1]]
[1]
Editor's Note: This ordinance also superseded former Art. VII, Construction of New Dwellings Real Estate Tax Exemption, adopted 10-10-2023 by Ord. No. 806.
As used in this article, the following terms shall have the meanings indicated:
DWELLING UNIT
Shall have the same definition, for the purposes of this article, as that set forth in Section 301 of the Act.[1]
IMPROVEMENT
Shall have the same definition, for the purposes of this article, as that set forth in Section 301 of the Act.[2]
RESIDENTIAL CONSTRUCTION
Shall have the same definition, for the purposes of this article, as that set forth in Section 301 of the Act.[3]
[1]
Editor's Note: See 72 P.S. § 4711-301.
[2]
Editor's Note: See 72 P.S. § 4711-301.
[3]
Editor's Note: See 72 P.S. § 4711-301.
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 $200,000.00 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 $200,000.00.
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 and the Tax Collector of the Borough of Derry, beginning January 1, 2025, through December 31, 2027, 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, 2027, or the thirty-six-month period may extend beyond December 31, 2027.