Make Your Voice Heard: No New Construction Tax
The City of Philadelphia faces choices that will determine the success or downturn of the city’s construction and economic development in the wake of the recovery from the COVID-19 pandemic. Planning for how to recover needs to include the continuation of Philadelphia’s Ten-Year Tax Abatement Program and a rethinking of the burdensome proposed construction tax. The numbers do not lie. The tax abatement program has proven to be a successful investment for the city. The most current data shows that between 2000 and 2017, there were 12,477 newly constructed or rehabilitated properties that utilized the tax abatement program. Since these projects are now outside of the abatement period, they are adding approximately $83M in property tax revenue. This long-term investment plan added revenue to the city’s treasury, generated family-sustaining jobs for Philadelphia’s construction workers, and provided both homes and employment to countless others.
The number of jobs in the City of Philadelphia has been dramatically affected by the pandemic. The city’s unemployment rate hit 18.2% in June of 2020 and more taxes will not bring these jobs back.
Help us support the skilled men and women of the construction trades who shop locally, send their children to local schools, and invest in their community. Their wages and opportunity to work will be a critical factor in improving the city and bringing needed revenue into the City of Philadelphia.