AN ORDINANCE AUTHORIZING PROPERTY TAX EXEMPTIONS FOR THE ACQUISITION, RENOVATION, AND IMPROVEMENTS TO EXISTING COMMERCIAL STRUCTURES SITUATED IN THE CITY OF CONNELLSVILLE; DEFINING ELIGIBLE PROPERTY; SETTING A MAXIMUM ABATEMENT AMOUNT AND AN EXEMPTION SCHEDULE; AND PROVIDING A PROCEDURE FOR SECURING AN EXEMPTION. WHERE AS, the City Council of the City of Connellsville desires to encourage new business, business expansion, and improvements to existing commercial structures within the City; WHERE AS, the City Council of the City of Connellsville, pursuant to its general taxing authority, provide incentive for property owners to acquire, and renovate or improve existing commercial or industrial property within the City by providing property tax abatement correlative to the verifiable and approved investment of the property owner. Section 1 ABATEMENT FOR CONSTRUCTION OR IMPROVEMENT (1) A property tax abatement shall be available to property owners of eligible commercial or industrial property situated within the City of Connellsville that meet the following: (a) Property contains an existing structure; (b) Property is acquired and either renovated or improved after the effective date of this Ordinance; (c) Property must be situated in an area designated for commercial or industrial use as Described by local zoning laws; and (d) Property is not “ineligible” as described in Section_________. Section 2 ABATEMENT AMOUNT (1) The amount of abatement credited to a property owner/applicant shall be calculated according to verified investment made by the property owner. (2) The ABATEMENT shall be limited to that improvement for which abatement has been requested In the manner set forth below. Section 3 ABATEMENT SCHEDULE (1) Property tax abatement shall be credited as follows: (a) Receipts and/or itemized verification of renovation, and improvements of $30,000 to $49,999 shall receive property tax abatement for 100% for a period of three years. (b) Receipts and/or itemized verification for renovation, and improvements of $50,000 to $ 74,000 Shall receive property tax abatement for 100% for a period of 5 years.
(c) Receipts and/or itemized verification for renovation, and improvements greater than $75,000 shall receive a property tax abatement for 100% a period of five years following application and 50% abatement for two years following the 100% abatement period. (2) The exemption from the taxes granted under the Ordinance shall be upon the property and shall terminate upon the sale or exchange of the property. Section 4 INELIGIBILTY No abatements shall be granted for any property for which property taxes or any other municipal charges are delinquent or remain unpaid or for which penalties for nonpayment are due for a period of at least one year, or for any property not being used in conformance with local, state or federal ordinance, regulation or statute. Section 5 PROCEDURE FOR OBTAINING ABATEMENT A copy of the request for abatement shall be provided to the City Clerk at City Hall _______ address City Council. Upon completion of the improvement or renovation, the Taxpayer shall notify the City Council by providing receipts and itemized proof of investment so that the Council may calculate the amount of assessment eligible for tax abatement in accordance with the limits established in this Ordinance. The City will then notify the taxpayer of the amount authorized for abatement. Section 6 EFFECTIVE DATE This Ordinance shall become effective upon the adoption by the City Council of the City of Connellsville. Section 7 AMENDMENTS No amendment to this Ordinance shall be effective unless consented to by the Resolution or Ordinance of the City Council of the City of Connellsville.
Section 8 TERMINATION DATE This ordinance shall automatically expire and terminate three years from adoptions by the City Council of the City of Connellsville provided, however , any taxpayer who has received or applied for the abatement granted by this Ordinance prior to the expiration date herein provided shall, if said abatement is granted, be entitled to the full abatement authorized herein.
Section 9 SEVERABILITY In the event that any provision of this ordinance or the application thereof to any person or circumstance is declared invalid by a court of competent jurisdiction, such declaration of invalidity shall not affect any other provision or application of this ordinance which may be given effect, and, to realize this intent, the provisions and applications of this ordinance are declared to be severable.
Property Tax Exemptions Connellsville