PRINTER'S NO. 664
No. 599 Session of 1997
INTRODUCED BY REBER, FEBRUARY 13, 1997
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 13, 1997
AN ACT
1 Providing an optional exemption for all residential real
2 property.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Exemption.
6 (a) General rule.--
7 (1) For taxing jurisdictions where the established
8 predetermined ratio is 100% of market value, up to 50% of the
9 average aggregate market value of residential property within
10 the county may be exempt from any taxes imposed on
11 residential property by any county, municipality or school
12 district.
13 (2) For taxing jurisdictions where the established
14 predetermined ratio is less than 100% of market value, up to
15 50% of the average aggregate market value of residential
16 property within the county may be exempt from any taxes
17 imposed on real property by any county, municipality or
1 school district.
2 (3) The amount of an exemption set for use by any taxing
3 jurisdiction shall be set by the governing body of that
4 taxing jurisdiction.
5 (b) Lost revenue.--Revenues which are not collected as a
6 result of subsection (a) may be collected by utilizing the
7 taxing powers under the act of (P.L. , No. ),
8 known as the Optional Local Tax Enabling Act. A county adopting
9 a personal income tax, a sales and use tax or a municipality or
10 school district adopting a personal income tax under the
11 Optional Local Tax Enabling Act shall use the proceeds from
12 these taxes to reduce existing taxes in this order:
13 (1) A tax based upon a flat rate or on a millage rate on
14 an assessed valuation of a particular trade, occupation or
15 profession, commonly known as an occupation tax. A tax at a
16 set or flat rate upon persons employed within the taxing
17 district, commonly known as an occupational privilege tax. A
18 per capita, poll, residence or similar head tax. The
19 intangible personal property tax under the act of June 17,
20 1913 (P.L.507, No.335), referred to as the Intangible
21 Personal Property Tax Law.
22 (2) The residential real property tax by a residential
23 property tax exemption up to 50% of the average aggregate
24 market value of residential property within the county.
25 (3) The millage rate of real property taxes after the
26 exemption amount under paragraph (2) has been granted.
27 Section 2. Applicability.
28 This act shall apply to all taxes on real property due on or
29 after January 1, 1999.
30 Section 3. Effective date.
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1 This act shall take effect January 1, 1999.
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