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File #: 2017-2244    Version: 1
Type: Resolution Status: Passed Finally
File created: 12/4/2017 In control: Committee on Finance and Law
On agenda: 12/5/2017 Final action: 12/19/2017
Enactment date: 12/19/2017 Enactment #: 852
Effective date: 12/28/2017    
Title: Resolution calling on the Director of Finance and City Treasurer to work with the Pennsylvania State Legislature to design a Long Time Owner Occupant Protection (LOOP) program that allows longtime owner-occupants to stay in their homes when they meet certain eligibility requirements regarding income, length of residence, and increases in assessed value by providing the opportunity for qualified owners to receive real estate tax exemptions.
Sponsors: Dan Gilman, Theresa Kail-Smith, Deborah L. Gross, Darlene M. Harris
Indexes: MISCELLANEOUS

Title

Resolution calling on the Director of Finance and City Treasurer to work with the Pennsylvania State Legislature to design a Long Time Owner Occupant Protection (LOOP) program that allows longtime owner-occupants to stay in their homes when they meet certain eligibility requirements regarding income, length of residence, and increases in assessed value by providing the opportunity for qualified owners to receive real estate tax exemptions.

 

Body

WHEREAS, Pittsburgh residents may be forced out of their homes because of increases in real estate taxes due to increased property values; and

 

WHEREAS, Pittsburgh’s City Council wishes to allow longtime residents to stay in their homes in spite of rising property values around them; and

 

WHEREAS, no program exists at present for Cities of the Second Class to guarantee that longtime owner occupants will not be forced to leave their homes because of increased property values that they did not create; and

 

WHEREAS, as part of the City’s Affordable Housing strategy, every effort should be made to help keep residents in the homes which they have occupied for a long time; and

 

WHEREAS, cooperation of the Pennsylvania Legislature is required to allow the City of Pittsburgh to implement a LOOP tax exemption program.

 

Be it resolved by the Council of the City of Pittsburgh as follows:

 

Section 1. The Director of Finance and City Treasurer is hereby directed to work with the appropriate members of the Pennsylvania Legislature to draft and advance a state law that will empower the Mayor and Council of the City of Pittsburgh to design and implement a tax exemption program for longtime owner occupants (LOOP Program) who qualify for such exemptions.

 

Section 2. The legislation proposed by the City shall include qualifying standards for those receiving abatements that include an application process, income limits, a time period of ownership and residence, and increases of a certain amount in taxable assessed value of the home exclusive of improvements or other value adding additions to the home.

 

Section 3.  The legislation shall apply to Cities of the Second Class and allow local development of regulations, policies and procedures by the Mayor of the Second Class City.

 

Section 4.  Progress on development of this legislation shall be reported to City Council no later than March 31, 2018 and the legislation shall be structured in such a way as to allow implementation on January 1, 2019 for application to real estate tax bills for 2019.