Ordinance of the County of Allegheny providing for temporary exemption from real property taxation for specified time periods for certain increases in assessed valuation of the new construction and of improvements, including repairs, construction or reconstruction, made on industrial commercial or business property in deteriorated areas and certain properties in deteriorated underutilized areas in the City of Pittsburgh, County of Allegheny, Commonwealth of Pennsylvania; prescribing the requirements and the procedures for securing such exemption; and authorizing an Intergovernmental Cooperation Agreement to implement this ordinance.
BODY
Whereas, the Local Economic Revitalization Tax Assistance Act, Pa. Stat. Ann. tit. 72, ยง4722 et seq., otherwise known as "LERTA", authorizes local taxing authorities to exempt from real estate taxation, for specified periods, new construction and improvements to certain deteriorated industrial, commercial and other business property; and
Whereas, the City Council of the City of Pittsburgh has held a public hearing to determine the geographic boundaries of deteriorated areas and deteriorated underutilized transition areas within those deteriorated areas within the City of Pittsburgh for the implementation of a temporary property tax exemption program under LERTA; and
Whereas, the City Council of the City of Pittsburgh has, by ordinance, affixed the boundaries of deteriorated areas and deteriorated underutilized transition areas within those deteriorated areas for the implementation of a temporary tax exemption program under LERTA; and
Whereas the County Council of the County of Allegheny finds that the implementation of a conditional program of temporary tax exemption from County real estate taxation for new construction and improvements to certain deteriorated property located within deteriorated areas and deteriorated underutilized transition areas within deteriorated areas of the City of Pittsburgh will contribut...
Click here for full text