It was a close vote this past week as Philadelphia City Council decided to revise the city’s controversial 10-year tax abatement on new construction.
As City Council struggles with setting a new property tax rate for homeowners, the lawmakers face a related question: whether to modify the long-controversial tax abatement for new construction.
“We’re giving away money (through the abatement) that we don’t necessarily need to give away,” Goode said. “And at the same time, driving up tax bills for everyone else.”
A city councilman is proposing a huge overhaul to the long-controversial 10-year property tax abatement in Philadelphia.