Will Tax Abatement Reform Trade Short-Term Gain for Long-Term Pain?
Sandy Smith
November 6, 2019
The public schools need the money now, say some advocates for the tax abatement's end. Giving it to them now could cost the city in the long run, a 2018 analysis finds.
Just about all of the declared candidates for Philadelphia City Council seats next month have proposed changes to the 10-year tax abatement on new construction and property improvements. At least one candidate has proposed eliminating it completely, and several others have proposed changes that will either phase out the abatement over time or limit the abatement to properties under a certain value.
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