A Philadelphia official who wants to scale back 10-year property tax abatements in the city is offering four ways of accomplishing that to her City Council colleagues.
Councilwoman Helen Gym said the goal is to funnel more money to the schools by curtailing the 10-year tax exemption on new construction.
“The first bill that was introduced in June eliminated a tax abatement on the property taxes that went to the school district, part of the tax abatement. The second one talked about geographic boundaries of the tax abatement, [a third calls for] a phaseout that goes 10 percent per year, and the final one was a cap on residential properties,” said Gym.
Now she hopes to corral enough votes to pass one of the four bills.
“I think this is the conversation that is going to move through City Council this session,” Gym said. “And what we want to make sure is that we have all the legislative options on the table, and it’s time to have this debate.”
As the mayor and City Council members run for new terms this year, Gym’s proposals fit an election-year pattern of finding ways to provide more funding for city schools without passing an across-the-board tax hike. — (WHYY)