[Adopted 10-3-1998 by Ord. No. 991]
A.
The boundaries of the Borough of Brookville, Jefferson
County, Pennsylvania, are hereby affixed as the boundaries of a deteriorated
area, and all industrial, commercial and other business property located
therein shall be considered deteriorated property for the purpose
of said Act.[1]
[1]
Editor's Note: “Said Act” refers
to Act No. 76 of the Session of 1997, commonly known as the "Local
Economic Revitalization Tax Assistance Act," 72 P.S. § 4722
et seq.
B.
The following schedule of exemptions, with respect
to improvements of deteriorated property as provided in said Act,
is hereby adopted, with the exemption to be granted on the increase
in assessment attributable to the actual cost of improvements, regardless
of the dollar amount:
|
Improvement Exemption Schedule
| |||
|---|---|---|---|
|
Year
|
Percent of Deduction
on Improvements
|
Percent of Tax Collected
on Increased Assessment
| |
|
1
|
100%
|
0%
| |
|
2
|
75%
|
25%
| |
|
3
|
50%
|
50%
| |
|
4
|
25%
|
75%
| |
|
5
|
0%
|
100%
| |
