Pennsylvania Act 1929-223 — REALTY TAXES, EXEMPTIONS

Act text

REALTY TAXES, EXEMPTIONS
                 Act of Apr. 11, 1929, P.L. 520, No. 223              Cl. 11
                                  AN ACT

     Relating to deductible assets, in the calculation of the
        percentage of the assessed valuation of taxable property,
        representing indebtedness, in proceedings to incur and
        increase indebtedness by counties, cities, boroughs, towns,
        townships, municipal districts and divisions.

        Compiler's Note:  Section 803 of Act 87 of 1941 provided that
            Act 233 is repealed except insofar as it relates to
            cities of the first class.
        Section 1.  Be it enacted, &c., That hereafter in any case
     where a public improvement is about to be made by any county,
     city, borough, town, township, or municipal district, or
     division, in connection with which the corporate authorities
     intend to assess the cost of such improvement, or a part
     thereof, against the owners of property benefited by the
     improvement, the said corporate authorities shall have power to
     cause to be prepared preliminary estimates of the amount of
     benefits which may be assessed against the owners of such
     property and for which liens may be legally filed under existing
     laws; and, in any proceedings for the incurring or increasing of
     indebtedness for the borrowing of moneys for the payment of the
     cost of such improvement, such estimates of assessable benefits,
     when signed and verified by the affidavit of the engineer that
     they are in his opinion fair estimates of the amounts of
     benefits which may be lawfully assessed, shall be considered
     deductible assets in such proceedings, in calculating the
     percentage of the assessed valuation of taxable property
     representing the total indebtedness of the county, city,
     borough, town, township, or municipal district, or division, in
     the same manner and with like effect as if liens had been
     actually filed for such benefits.