ReTAP

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CITY OF READING, PENNSYLVANIA

COMMUNITY DEVELOPMENT 815 WASHINGTON STREET

READING, PA 19601-3690

(610) 655-6253

 

TAMI DAVIES-COLEMAN

COMMUNITY DEVELOPMENT

MANAGER

 

ReTAP

 

 

The City of Reading adopted the ReTAP Program as a means of encouraging development and reinvestment of deteriorated residential property within the City of Reading limits.

 

ReTAP, is the acronym for Real Estate Tax Abatement Program, and is intended for residential property owners who are contemplating repair, construction, or reconstruction of residential property within the City of Reading limits.

 

The portion of the assessment of a property attributable to improvements for repair or reconstruction as determined by the Assessment Agency to be exempted from taxation each year for ten (10) years is indicated in the following schedule:

 

Year

Percentage Exempted

1st

100%

2nd

90%

3rd

80%

4th

70%

5th

60%

6th

50%

7th

40%

8th

30%

9th

20%

10th

10%

Tax exemption terminates thereafter.

 

The eligible assessed valuation of the property attributable to new residential construction as determined by the Assessment Agency to be exempted from taxation each year for three (3) years is indicated in the following schedule.

 

Year

Percentage Exempted

1st

100%

2nd

100%

3rd

100%

Tax exemption terminates thereafter.

 

Eligible property owners should complete and submit the application along with a copy of the building permit to the City’s Community Development office as soon as the building permit is issued, but no later than thirty (30) days after the completion of the improvements.

For additional information or questions regarding the program, please contact:

Tami Davies-Coleman

Community Development Manager

(610) 655-6253

tami.davies-coleman@readingpa.gov