[HISTORY: Adopted by the Borough Council of the Borough of Bridgeport 12-18-2018 by Ord. No. 2018-009. Amendments noted where applicable.]
As used in this chapter, the following terms shall have the meanings indicated:
- ACT or LERTA
- Local Economic Revitalization Tax Assistance Act of the Commonwealth, 72 P.S. § 4722 et seq., as amended.
- Borough of Bridgeport, Montgomery County, Pennsylvania, acting by and through its Borough Council, or acting by and through its authorized representatives.
- BOROUGH COUNCIL
- The Borough of Bridgeport Borough Council.
- The Commonwealth of Pennsylvania.
- COMPLETION OF CONSTRUCTION
- The issuance of a certificate of occupancy by the Borough of Bridgeport.
- County of Montgomery, Pennsylvania, acting by and through its Board of County Commissioners, or acting by and through its authorized representatives.
- DESIGNATED AREA
- The area within the Borough identified in this chapter and attached as Exhibit A.
- ELIGIBLE PROPERTY
- Any industrial, commercial or other business property located within the designated area. Property adjacent to areas meeting the criteria of this section, but which would not otherwise qualify, may be included within the designated area, if the local taxing authorities determine that new improvements on such property would encourage, enhance or accelerate improvement of the properties within the designated area, and adopt appropriate amends to this legislation, as required by the Act.
- Repair, construction, or reconstruction, including alterations and additions, having the effect of rehabilitating an eligible property owned by a person located within the designated area 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; "improvement" does not include any ordinary upkeep or maintenance.
- LOCAL TAXING AUTHORITIES
- Borough of Bridgeport, Montgomery County, and the Upper Merion Area School District.
- Any individual, partnership, company, association, society, trust, corporation, municipality, municipal authority, or other group or entity.
- SCHOOL DISTRICT
- Upper Merion Area School District, Montgomery County, Pennsylvania, acting by its Board of School Directors, or, in appropriate cases, acting by and through its authorized representatives.
The Borough hereby designates the area within the following boundaries as a "deteriorated area" determined within the meaning of the Act, and one in which the local taxing authorities may grant a tax exemption pursuant to the provisions of the Act. All parcels that qualify as "eligible properties," and are within the designed "deteriorated area," are specifically delineated via the list attached to this ordinance as Exhibit A.
Editor's Note: Exhibit A is included as an attachment to this chapter.
There is hereby exempted from all real estate property taxes that portion of additional assessment attributable to the actual costs of new improvements to eligible property for which proper application has been made in accordance with this chapter.
The exemptions authorized by this chapter shall be in accordance with the Standard Exemption Schedule, subject to provisions and limitations hereinafter set forth.
The schedule of real property taxes to be exempted shall be in accordance with the following percentage of the assessed valuation of new improvements to eligible property:
A tax exemption granted under the Standard Exemption Schedule shall become effective for a five-year period from the completion of construction for any improvements and shall terminate after the fifth year.
A tax exemption granted under this chapter shall not terminate upon the sale or exchange of the property.
Any person who is an owner of eligible property and who desires tax exemption pursuant to this chapter shall apply, in writing, for such exemption on a form to be provided by the Borough at the principal office of the Borough and must be received by the Borough within 60 days following the date of issuance of a building permit for any new improvements.
The Borough shall make available to any person desiring to apply for tax exemption in accordance with this chapter an application form (the "application") which shall require such person to supply the following information:
The name of the owner or owners of the eligible property;
The location of the eligible property, including the tax parcel identification number assigned to such property for real property tax purposes;
The type of new improvements to be made on the eligible property (industrial, commercial or other business);
The nature of the improvements to be made on the eligible property;
The date on which the relevant building permit was issued, the date on which construction commenced or the estimated date on which it shall commence;
The cost or estimated cost of the new improvements;
Whether the eligible property has been condemned by any governmental body for noncompliance with laws or ordinances; and
Such additional information as the Borough may reasonably require.
The appropriate official of the Borough shall forward a copy of such completed application to the county and School District within 30 days following the date on which such application is filed.
The cost of new improvements to be exempted and the schedule of taxes exempted at the time of an initial request for tax exemption made in accordance with the provisions of this chapter shall be applicable to that exemption request, and any subsequent amendment to this chapter, if any, shall not apply to applications filed with the Borough prior to their adoption.
The Borough may reject an application that is incomplete or fails to provide any of the information required under this chapter.
Any property owner who elects to appeal the assessed value of a property eligible under LERTA during any exemption period granted shall be disqualified from participation in the LERTA Program upon the filing of such an appeal to the Board of Assessment.
Any property owner who fails to pay when due any and all nonexempt real estate taxes, together with water/sewer rents relating to a participating property in the LERTA Program or any other property as may be owned by the same property owner within the designated area shall result in disqualification from participation in the LERTA Program.
Any other matter that is determined by the Borough to be in contravention of this chapter shall result in disqualification from participation in the LERTA Program.
The provisions of this chapter shall expire upon the 10th anniversary of its enactment, unless extended by ordinance duly adopted. Any property tax exemptions granted under the provisions of this chapter shall be permitted to continue according to the exemption schedule even if this chapter expires or is repealed.
Appeals from the reassessment and the amounts eligible for exemption under this chapter may be taken by the taxpayer or the local taxing authorities as provided by law.