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.