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What Happens When Philadelphia Tax Abatements Expire?
Mayor Kenney’s recently proposed increases in the property tax and real estate transfer tax in order to cover the School District’s $105m deficit will likely reopen the public discussion over the city’s ten year tax abatement program. Council President Clarke has stated that he would like to “revisit” the abatement program in 2018. This begs the question: Has the Philadelphia tax abatement program been successful so far? What happened to previously tax-abated properties after the tax abatement expired?