116. Amendment of section 96 (charge of residential property tax) of Act of 1983.

Section 96 of the Act of 1983 is hereby amended, as respects any valuation date commencing with the year 1994, by the deletion of "the rate of tax shall be one and one-half per cent. of that net market value" and the substitution of "the tax chargeable on that net market value shall be computed in accordance with the Seventh Schedule to the Finance Act, 1994".