[Adopted 8-9-1995 by Res. No. 15-8-1994 (Ch. 24, Part
5, of the 1999 Code of Ordinances)]
As used in this article, the following words and phrases shall
have the meaning set forth below:
Any industrial, commercial or other business property owned
by an individual, association or corporation and located in a deteriorating
area or any property which has been subject of an order by a government
agency requiring the property to be vacated, condemned or demolished
by reason or noncompliance with law, ordinances or regulations.
Repair, construction or reconstruction, including alterations
and 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.
The County of Monroe, the Pocono Mountain School District
and the Township of Coolbaugh.
The Board determines that the real property within Coolbaugh
Township, Monroe County, described on Schedule A[1] annexed hereto and incorporated herein by this reference,
is a deteriorated area and the Board finds that this tract of land
is eligible for tax exemption under LERTA and this article. Therefore,
persons making improvements to eligible industrial, commercial or
other business properties in the foregoing eligible area may apply
for, and the Board of Assessment Appeals may grant, a real estate
tax exemption upon such improvements in the amount and in the manner
hereinafter provided.
[1]
Editor's Note: Schedule A is on file at the Township office.
The amount to be exempted from real estate taxes shall be limited
to that portion of the real estate tax assessment attributable to
the actual cost of improvements in accordance with the exemption schedule
established within this article. The exemption for real estate taxes
shall be limited to improvements for which an exemption has been requested
in the manner set forth below and for which a separate assessment
has been made by the Monroe County Board of Assessment Appeals.
A.
The schedule of real estate taxes to be exempted shall be in accordance
with the following schedule:
|
Tax Year
|
Amount of Exemption
| |
|---|---|---|
|
First year
|
100%
| |
|
Second year
|
80%
| |
|
Third year
|
60%
| |
|
Fourth year
|
40%
| |
|
Fifth year
|
20%
| |
|
Sixth year
|
0%
|
B.
The exemption granted under this article shall be upon the property
and shall not terminate upon the sale or exchange of the property.
A.
At the time a building permit for the construction of an improvement
is applied for, the Township Zoning Officer shall notify the applicant
by a printed notice of the possibility of a tax exemption under this
article. When the building permit is issued, the taxpayer shall apply
to the Board of Assessment Appeals for such exemption within 30 days
of issuance of the building permit. The application shall be made
in writing and shall contain the following information:
B.
The Board of Assessment Appeals shall determine whether the exemption
shall be granted. A copy of the approved request for exemption shall
be forwarded by the Board of Assessment Appeals to the taxpayer.
C.
Upon completion of the improvement, the taxpayer shall notify the
Monroe County Board of Assessment Appeals, the Township of Coolbaugh
and the Pocono Mountain School District so that the Board may assess
the improvements separately for the purpose of calculating the amount
of assessment eligible for exemption.
D.
The Board of Assessment Appeals shall notify the taxpayer of the
amount of assessment eligible for exemption.
E.
Appeals from the reassessment and the amount eligible for the exemption
may be taken by the taxing districts or by the taxpayer as provided
by law.
This article shall take
effect immediately and shall remain in effect thereafter from year
to year, unless sooner repealed, until December 31, 2025.
