Test Drive Our New Site! We have some improvements in the works that we're excited for you to experience. Click here to try our new, faster, mobile friendly beta site. We will be maintaining our current version of the site thru the end of 2024, so you can switch back as our improvements continue.
Legislation Quick Search
07/12/2024 07:20 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20230&cosponId=38817
Share:
Home / Senate Co-Sponsorship Memoranda

Senate Co-Sponsorship Memoranda

Subscribe to PaLegis Notifications
NEW!

Subscribe to receive notifications of new Co-Sponsorship Memos circulated

By Member | By Date | Keyword Search


Senate of Pennsylvania
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: December 19, 2022 02:52 PM
From: Senator Jay Costa
To: All Senate members
Subject: Longtime Owner Occupant Tax Exemption Program (LOOP)
 
In the near future, I will be reintroducing SB 781 from last session.  This legislation will allow Pittsburgh the option of enacting a Longtime Owner Occupant Program (LOOP) to help homeowners better manage property taxes in neighborhoods experiencing rapid change due to economic growth.

The First and Second Class County Property Tax Relief Act was passed in 1988. It permits Allegheny County municipalities to provide for a LOOP program, but the county must adopt an ordinance of its own to authorize municipalities to adopt their own programs. Allegheny County has no such ordinance in effect due to a legal challenge and adopting revised language that works for 130 unique municipalities has proven difficult, so Pittsburgh is seeking its own authority to meet its changing conditions and needs.

LOOP will allow for Pittsburgh to design a property tax relief plan based on years of home ownership and increases in property taxes due to property value increases. The City would be permitted to exempt or defer the property tax increases of longtime owner occupants in the neighborhoods most impacted by development. Only those increases in property taxes for longtime owner occupants that can be determined to be generated from the development pressure occurring in the targeted neighborhoods would be subject to deferral or exemption.

As Pittsburgh experiences an improved economy, increased investment, and positive development in many of its neighborhoods, longtime owner occupants have been and will continue to be put at risk of being forced out of their homes due to rapid increases in property taxes. Rising living costs and constantly increasing tax burdens in areas where real property values have risen markedly because of development activities are pushing long time residents out of the homes they have worked their entire lives to own and age in. Providing relief from these increases will help stabilize property tax bills, home ownership, and communities.

Senators Fontana, Tartaglione, Street, Brewster, Kearney, Cappelletti and Dillon co-sponsored this initiative last session.  Please join me in co-sponsoring this legislation.
 



Introduced as SB219