Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 4711-303. Exemption schedule;  maximum exemption

(1) For the first, second and third year for which said newly-constructed dwelling unit or units would otherwise be taxable, one hundred per cent of the eligible assessment shall be exempted;  after the third year the exemption shall terminate;

(2) For the first year for which said newly-constructed dwelling unit or units would otherwise be taxable, one hundred per cent of the eligible assessment shall be exempted;  for the second year, ninety per cent of the eligible assessment shall be exempted;  for the third through tenth years, eighty, seventy, sixty, fifty, forty, thirty, twenty, and ten per cent, respectively, of the eligible assessment shall be exempted;  after the tenth year, the exemption shall terminate;  or

(3) For the first, second, third, fourth, fifth, sixth, seventh, eighth, ninth and tenth year for which said newly-constructed dwelling unit or units would otherwise be taxable, one hundred per cent of the eligible assessment shall be exempted;  after the tenth year the exemption shall terminate.

(4) A local taxing authority may provide for tax exemption on the assessment attributable to the actual cost of construction of the new dwelling unit in accordance with a schedule established by the taxing authority, provided that the exemption schedule does not exceed a period of ten years.