Official:Amending Section 19-1303(4) of The Philadelphia Code, entitled "Authorization to Offer Exemption from Real Estate Taxes on New Construction of Residential Properties," by extending the exemption period for certain existing grants of exemption, under certain terms and conditions.
Sponsor: Councilmember Nutter
Introduced: October 24, 2002
Signed: March 27, 2003
: Committee on Finance
Status: Signed into Law, step 4 of 4
This bill extends the exemption period for real estate taxes on new residential construction in Philadelphia. For properties that received a certificate of occupancy after October 27, 1999, the tax-exempt period is extended from three years to ten years.
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