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Tax breaks help city overall, study says
March 27, 2017
When Philadelphia’s City Council ushered in sweeping property-tax relief in the late 1990s, politicians, developers, and many residents saw the move as much-needed relief for a city in decline, one that had been losing population, jobs, and homeowners for years.
Now, with the abatement in its 17th year, the Building Industry Association of Philadelphia has released a report touting its benefits. A study of the city’s property-tax rolls conducted by Kevin Gillen, senior research fellow at Drexel University's Lindy Institute for Urban Innovation and a member of the BIA's board of directors, found that the abatement has been a major boon to the city, increasing home values, adding tax revenue, and facilitating significant amounts of construction.
Read the full article online or print by Caitlin McCabe, Staff Writer, Philadelphia Inquirer.
Now, with the abatement in its 17th year, the Building Industry Association of Philadelphia has released a report touting its benefits. A study of the city’s property-tax rolls conducted by Kevin Gillen, senior research fellow at Drexel University's Lindy Institute for Urban Innovation and a member of the BIA's board of directors, found that the abatement has been a major boon to the city, increasing home values, adding tax revenue, and facilitating significant amounts of construction.
Read the full article online or print by Caitlin McCabe, Staff Writer, Philadelphia Inquirer.
