HARRISBURG – PA would provide special financial assistance to municipalities with high levels of tax-exempt property under legislation introduced by Northampton County Rep. Robert Freeman. House Bill 451 would establish the Tax-Exempt Property Municipal Assistance Fund to help municipalities with 15% or more of their total assessed property value as tax-exempt property within their borders. It would be funded by the state’s existing 18% Liquor Tax, known as the Johnstown Flood Tax. It would require each county to annually provide the state with information regarding the assessed value of tax-exempt properties. The funding formula would be based on the assessed value of those properties as if they were taxable. No municipality would receive more than 10% of the total revenue in the fund, and property owned by the municipality itself would not be eligible for compensation. House Bill 451 was referred to the House Local Government Committee.
REP. ROBERT FREEMAN