§ 33-9. DISQUALIFICATION OF PROPERTY OWNER PRIOR TO TERMINATION OF AGREEMENT; TAX PAYMENTS DUE.

a.

If during any tax year prior to the termination of the tax agreement, the property owner ceases to operate or disposes of the property, or fails to meet the conditions for qualifying, then the tax which would have otherwise been payable for each tax year shall become due and payable from such property owner as if no exemption and abatement had been granted. The Borough Council shall notify the property owner and the Tax Collector forthwith, and the Tax Collector shall within fifteen (15) days thereof notify the owner of the property of the amount of taxes due.

b.

However, with respect to the disposal of the property, where it is determined that the new owner of the property will continue to use the property pursuant to the conditions which qualified the property for exemption, no tax shall be due, the exemption shall continue, and the agreement shall remain in effect.

(Ord. #424-95, § 1)

(Ord. No. 126-10, § 1, 4-26-2010)