PRINTER'S NO. 1338
No. 1194 Session of 1979
INTRODUCED BY CIMINI, MAY 2, 1979
REFERRED TO COMMITTEE ON LOCAL GOVERNMENT, MAY 2, 1979
AN ACT
1 Amending the act of May 21, 1943 (P.L.571, No.254), entitled, as
2 amended, "An act relating to assessment for taxation in
3 counties of the fourth, fifth, sixth, seventh and eighth
4 classes; designating the subjects, property and persons
5 subject to and exempt from taxation for county, borough,
6 town, township, school, except in cities and county
7 institution district purposes; and providing for and
8 regulating the assessment and valuation thereof for such
9 purposes; creating in each such county a board for the
10 assessment and revision of taxes; defining the powers and
11 duties of such boards; providing for the acceptance of this
12 act by cities; regulating the office of ward, borough, town
13 and township assessors; abolishing the office of assistant
14 triennial assessor in townships of the first class; providing
15 for the appointment of a chief assessor, assistant assessors
16 and other employes; providing for their compensation payable
17 by such counties; prescribing certain duties of and certain
18 fees to be collected by the recorder of deeds and municipal
19 officers who issue building permits; imposing duties on
20 taxables making improvements on land and grantees of land;
21 prescribing penalties; and eliminating the triennial
22 assessment," further providing for temporary tax exemption
23 for improvements or additions to residential property.
24 The General Assembly of the Commonwealth of Pennsylvania
25 hereby enacts as follows:
26 Section 1. Section 203, act of May 21, 1943 (P.L.571,
27 No.254), known as "The Fourth to Eighth Class County Assessment
28 Law," is amended by adding a subsection to read:
29 Section 203. Temporary Tax Exemption for Residential
1 Construction.--* * *
2 (c) Improvements and additions to property used as homes or
3 residences which result in an increased assessment shall be
4 valued and reassessed: Provided, however, That for a period of
5 five years after the new assessment, the taxing authority shall
6 use the prior assessment as the basis for imposing taxes. If any
7 property, reassessed and taxed under the provisions of this
8 subsection, is sold within the five-year period, the tax
9 deferred by this subsection for the year in which the sale is
10 made shall be paid in full and collected at settlement.
11 Thereafter taxes shall be based on the new assessment. In no
12 case shall the buyer or seller of the property be required to
13 pay the taxes on the increased assessment exempted by this
14 subsection for the period prior to the year of sale.
15 Section 2. This act shall take effect in 60 days.
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