[Adopted 10-11-1994 by Ord. No. 1295 (Ch. 24, Part 5, of the 2006 Code of Ordinances)]
As used in this article, the following terms shall have the meaning indicated:
DETERIORATED PROPERTY
Any property except property used primarily for residential purposes, owned by any individual, association or corporation and located in a deteriorating area as hereinafter defined or any such property which has been the subject of an order by a governmental agency requiring such property to be vacated or demolished by reason of noncompliance with any law, ordinance or regulation.
DETERIORATING AREA
That area that has been designated the "enterprise zone" by the Pennsylvania Department of Commerce.
IMPROVEMENT
Construction or reconstruction including alterations and additions, having the effect of rehabilitating a deteriorated property so that it becomes habitable or attains a higher standard of safety, health or economic use or amenity or is brought into compliance with any law, ordinance or regulation governing such standard. Ordinary upkeep and maintenance shall not be considered an improvement.
There is hereby exempted from real property taxation the assessed valuation of improvements to deteriorated properties within deteriorating area in the amounts and in accordance with the provisions and limitations set forth in §§ 491-7 and 491-8 of this article. The tax exemption herein provided shall apply to all such improvements commenced by construction on the ground on and after July 1, 1994.
The tax exemption set forth in § 491-6 above shall be limited to a tax exemption of the assessed value of the improvements to deteriorated property, within the deteriorating area provided such improvements are in compliance with applicable laws during the entire period of exemption.
The following schedule of percentage of tax exemption shall apply to all properties satisfying the provisions and limitations set forth in this article:
Eligible Tax Year
Percentage of Tax Exemption on Eligible Assessment
1
100%
2
80%
3
60%
4
40%
5
20%
A. 
The exemption hereinbefore authorized shall be upon the property exempted and shall terminate upon the sale or exchange of the property.
B. 
The exemption schedule in effect at the time of the initial request for exemption shall apply to the cost of improvement exempted and any subsequent amendments to this article after the initial request shall not apply to the exemption granted.
A. 
Any applicant desiring a tax exemption pursuant to this article shall apply to the Office of Code Enforcement on a form provided by such office whether or not a building permit is required.
B. 
A copy of such request shall be forwarded to the Mercer County Board of Assessment and Revision of Taxes. Thereafter, such Board shall, after completion of the improvement, assess the value of the improvement separately, calculate the amounts of the assessment eligible for tax exemption in accordance with the limits established in this article and notify both the taxpayer and the Borough of said reassessment and of the amounts of the assessment eligible for an exemption may be taken by the taxpayer or by the Borough as provided by law.
C. 
The form herein prescribed shall require the following verified information:
(1) 
The date the building permit was issued for such improvements, if applicable.
(2) 
A description of the improvement.
(3) 
The estimated cost of the improvement.
(4) 
The person or persons performing the work on the improvement.
(5) 
The location of the property being improved.
(6) 
A statement as to whether or not the property has been condemned or is in violation of the requirements of any law or ordinance and, if so, the name of the condemnor or the agency issuing the violation notice.
(7) 
Any additional information that the County Assessment Office or the Code Enforcement Office may require to apply the provisions of this article.
D. 
The application provisions set forth in this article shall be deemed to be mandatory. Failure of any person desiring a tax exemption to comply with the application requirements contained herein shall be conclusively presumed to be a waiver of any right to claim a real estate exemption as provided by this article.