Reporting Tony Romeo
By Tony Romeo
HARRISBURG, Pa. (CBS) — The state budget secretary has certified another round of property tax reductions financed by revenues from Pennsylvania casinos.
State law requires the budget secretary to certify by April 15th how much will be available for property tax relief, and this year, that figure is more than $782 million dollars. That will translate to, on average, around $200 of property tax relief per household. That’s about the same as past years, despite the fact that casino revenues have increased. Eric Shirk, the spokesman for Governor Corbett, says one reason has to do with requirements that the Property Tax Relief Fund have sustainable levels and a reserve fund that must be replenished.
“There’s a reserve fund that was borrowed against in past years. Once the relief reserve fund has been replenished and sustainable revenues are available, property tax relief payments can be increased.”
The City of Philadelphia’s share of the tax relief funds — $89 million– will be put toward wage tax relief.