Pennsylvania SB1374 amends tax exemption rules for deteriorated properties and new construction in economically depressed areas.

Pennsylvania SB1374 amends the Local Economic Revitalization Tax Assistance Act to allow local taxing authorities to exempt from real property taxation the assessed valuation of improvements to deteriorated properties and new construction in designated deteriorated areas. The bill defines "deteriorated property" and "deteriorated areas" and sets an exemption schedule.

Pennsylvania SB1374 amends tax exemption rules for deteriorated properties and new construction in economically depressed areas.

Pennsylvania SB1374 amends the Local Economic Revitalization Tax Assistance Act to allow local taxing authorities to exempt from real property taxation the assessed valuation of improvements to deteriorated properties and new construction in designated deteriorated areas. The bill defines "deteriorated property" and "deteriorated areas" and sets an exemption schedule.