PRINTER'S NO. 697
No. 655 Session of 1977
INTRODUCED BY EARLY, ORLANDO, STAUFFER, LEWIS AND JUBELIRER,
MARCH 30, 1977
REFERRED TO LOCAL GOVERNMENT, MARCH 30, 1977
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," requiring certain information from owners of
23 income-producing property and providing a penalty.
24 The General Assembly of the Commonwealth of Pennsylvania
25 hereby enacts as follows:
26 Section 1. The act of May 21, 1943 (P.L.571, No.254), known
27 as "The Fourth to Eighth Class County Assessment Law," is
28 amended by adding a section to read:
1 Section 605.3. Reports by Holders of Income-producing
2 Property.--(a) For the purpose of ascertaining the proper
3 assessment of income producing real estate, it shall be the duty
4 of each owner or person assessed of rental income-producing
5 property, which produces more than $5,000 rent per annum, upon
6 request of the chief county assessor or the county board of
7 assessment appeals to transmit to the appropriate board on or
8 before June 15 of each year upon a form prescribed, prepared and
9 furnished by the board, the following information statement
10 certified as full, true and correct:
11 (1) The annual gross rental income.
12 (2) The annual operating income and expense statements.
13 (3) The annual net rental income.
14 (4) The aggregate number of rental units and the rental
15 charges per each unit.
16 (5) The annual gross sales, if any.
17 (6) The annual net sales, if any.
18 (7) The amount of mortgage, interest rate and terms.
19 (b) Any person or officer who shall fail to provide such
20 information statement as aforesaid, shall be guilty of a summary
21 offense, and upon his or her conviction thereof, shall be
22 sentenced to pay a fine not exceeding $100, or undergo
23 imprisonment not exceeding two months, or both.
24 (c) The information required by this section shall be used
25 by the board only for general assessment or reassessment
26 purposes.
27 Section 2. This act shall take effect in 60 days.
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