(a) The abatement from real estate taxes shall be limited to the additional assessment valuation attributed specifically to the reassessed value of improvements and construction on deteriorated property as outlined in the application approved by the City for improvements and construction.
(b) The abatement from real estate taxes shall be limited to that portion of the increased assessment attributed to the improvements and construction for which an abatement has been approved by the City and for which a separate assessment has been made by the York County Assessment Office.
(c) The schedule of real estate taxes to be abated shall be in accordance with the below schedule of improvements to be exempted each year:
YEAR | PERCENTAGE |
First | 100 |
Second | 90 |
Third | 80 |
Fourth | 70 |
Fifth | 60 |
Sixth | 50 |
Seventh | 40 |
Eighth | 30 |
Ninth | 20 |
Tenth | 10 |
(Ord. 19-2017. Passed 7-18-17.)