As used in this article, the following words
and phrases shall have the meanings set forth below:
DETERIORATING PROPERTY
Any commercial, industrial, retail or other nonresidential
business property owned by an individual, association or corporation
and located in areas as hereinafter provided, or any such property
which has been the subject of an order by Abington Township requiring
the unit to be vacated, condemned or demolished by reason of noncompliance
with laws, ordinances or regulations within the Township of Abington.
IMPROVEMENT
Repair, construction or reconstruction, including alterations
or additions, having the effect of rehabilitating a deteriorated property
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. For purposes
of this article, repair or construction of buildings containing a
majority of apartment units shall not constitute an improvement eligible
for a real estate tax exemption under provisions of this article.
By this article, the Abington Township Board
of Commissioners designates all commercial, industrial, retail or
local business properties located within the following areas as deteriorating
in accordance with the plan attached as Exhibit A, to be eligible to participate in the provisions of this
article:
A. The Keswick Planning District.
B. The Mc Kinley Planning District.
C. The North Hills Planning District.
D. The Old York Road Planning District.
E. The Roslyn Planning District.
F. The Town Center Planning District.
The exemption period shall run for five years
and shall commence with the issuance of an occupancy permit or final
inspection for the applicable improvement, according to the following
schedule:
F. The exemption from taxes granted under this article
shall be upon the property and shall not terminate upon the sale or
exchange of the property.
A property participating in this tax exemption
provision shall be subject to the following conditions of exemption:
A. The tax valuation of the property established by the
Board of Assessment prior to this provision shall remain free from
assessment appeal for a two-year period preceding the exemption period,
during the exemption period and for three years following the abatement
period.
B. The tax exemption status does not become applicable
until a building permit shall be issued for the qualifying improvement.
C. Building permits issued to qualifying property prior
to the adoption of this article shall not be applicable to this provision.
A copy of the request for exemption shall be
forwarded by the Office of Economic Development to the Montgomery
County Board of Assessment. Upon completion of the improvement or
new construction, the taxpayer shall notify the Township Economic
Development Office and the Montgomery County Board of Assessment so
that the Board of Assessment can establish a separate assessment for
the qualifying improvements for the purpose of calculating the amount
of assessment eligible for the tax exemption in accordance with the
limits established in this article. The County Board of Assessment
will then set the amount of assessment eligible for exemption, record
the same on its assessment rolls and notify the taxpayer of the assessment
eligible for exemption. Appeals from the assessment and the amount
eligible for the exemption may be taken by the taxpayer or the Township
of Abington as provided by law.