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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | January 22, 2013 05:18 PM |
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| From: | Representative Rosita C. Youngblood |
| To: | All House members |
| Subject: | Cosponsorship -- Resolution studying the allocation of Philadelphia gaming revenue |
| In the near future, I plan to introduce a resolution directing the Legislative Budget and Finance Committee to study the allocation of gaming revenue provided to Philadelphia from the Property Tax Relief Fund and whether wage tax relief or property tax relief best represents the needs of the residents and taxpayers of the City. As many of you know, the City of Philadelphia is set to implement a new, updated property tax assessment plan in 2013, known as Actual Value Initiative, or AVI. This tax assessment plan could have a real negative impact on hundreds of thousands of Philadelphia homeowners, some of whom could see a major increase in their property taxes. This new tax plan was not part of the debate when the General Assembly first adopted the Taxpayer Relief Act, which directs how most of the gaming money from the state's licensed casinos is allocated. Currently, Philadelphia is the only county that uses money from the Property Tax Relief Fund to reduce the City's wage tax. When the Act was passed, financial analysts said that Philadelphia residents pay less in property taxes and more in wage taxes than residents of many other jurisdictions, and the wage tax was more of a burden on taxpayers. But with AVI on the horizon, its effects could have dire impacts on homeowners and communities across the City. A new study on whether reducing property taxes or wage taxes should be conducted that incorporates AVI so that Philadelphia uses gaming money in the best manner that represents the needs of its citizens. I hope you will join me in cosponsoring this legislation. Thank you in advance for your consideration. |
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Introduced as HR86