My Solution for Philly Property Tax Abatement Phase Out

My appeal to City Council Members is to strike a compromise. Delay the start date for the new abatement provisions to December 2020. Allow projects in the works prior to July 2020 to continue and if not completed by that time to be exempted to allow completion. Finally, place a moratorium on commencement of new projects until January 2021. This will allow the investors to apply and source their resources (both labor and supplies) to comply with the new property tax abatement. Investors in Philly, if they are going to do business here, must invest not only in their bottom line but also in our Public School System!

Philadelphia Mayor Jim Kenney threatens to block changes to controversial 10-year tax abatement

See article on: www.inquirer.com By Laura McCrystal, The Philadelphia Inquirer