Public Hearing Announced Regarding Tax Base Expansion Ordinance

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The Borough and School District will hold a public hearing on February 18th at 6pm to discuss the Tax Base Expansion Ordinance which will be coming before both bodies for adoption in the near future. The ordinance provides for a tax compromise process for where a willing seller exists on a property that has multiple years of tax delinquency.  The proposed ordinance also contains a 10 year  tax abatement on increases in tax assessment for commercial properties that are improved. The proposed abatement starts at 100% of the increased in assessment and shrinks 10% each consecutive year until the owner is paying taxes on 100% of the assessed value. The aim of the ordinance which was developed by a committee with members of the public, the Borough and School District, is to encourage development in the Borough and to decrease vacancy, blight and tax delinquency in the face of a shrinking tax base. The tax committee is also pursuing a residential abatement that will be presented for adoption at a later date. For more information on how all this will work please come to the public hearing.

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