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§ 19-3205. Conditions for Real Estate Tax Exemption. 640
(1) A resident of real property located in the Zone, other than in the Economic Development District and Strategic Development Area, shall not be entitled to an abatement of real estate taxes on such property unless such resident invests in improvements to the real property an amount equal to no less than twenty-five percent (25%) of all real property taxes which would have been due if the real property was not located in the Zone. 641
(2) A nonresident owner of real property located in the Zone, other than in the Economic Development District and Strategic Development Area, who leases such property directly or indirectly to a person for residential use shall not be entitled to an abatement of real estate taxes on such property unless such nonresident owner invests in improvements to the real property no less than fifty percent (50%) of all real property taxes which would have been due if the real property was not located in the Zone. 642
(3) Application deadlines.
(a) Any taxpayer requesting a real estate tax abatement pursuant to this Chapter shall notify the Board of Revision of Taxes in writing on a form provided by the Board of Revision of Taxes within 30 days of the designation of the Zone by DCED or within 30 days of the transfer of ownership of the real property subject to abatement. A copy of the abatement request shall be forwarded by the Board of Revision of Taxes to the Department.
(b) A taxpayer applying outside the prescribed deadline set forth in subsection (a) above shall nonetheless be granted a real estate tax abatement according to the provisions of this Chapter, beginning in the calendar year next following the year of application, but only if one of the following conditions is met:
(.1) An active trade or business is being conducted on the subject real property, but only such portion of the property that is devoted to the active trade or business shall be eligible for the real estate tax abatement.
(.2) Substantial improvements to the subject real property are being made, or have been made since the time of the late application, but only such portion of the property upon which the improvements are being or have been erected or performed shall be eligible for the real estate tax abatement.
(c) The provisions of this subsection relating to application deadlines shall not apply to real property located in the Philadelphia Keystone Opportunity Expansion Zone, the Philadelphia Keystone Opportunity Improvement Zone or the Economic Development District. 643
(4) Interest and penalties. If the department finds that a taxpayer claimed an abatement of real property tax to which the taxpayer was not entitled under this Chapter, the taxpayer shall be liable for the abated taxes and subject to interest, additions and penalties under Section 19-1303 of this Code.