Report: Pa. House Bill To Abolish School Property Taxes Would Fall $1.5 Billion Short

Map of Pennsylvania

Map of Pennsylvania (Photo credit: Wikipedia)

HARRISBURG — A House bill to eliminate all school property taxes would fall $1.5 billion short of generating enough money to replace the revenue existing property taxes raise, according to a report from Pennsylvania‘s Independent Fiscal Office.

“The IFO has confirmed the views I held in June,” when the bill was tabled, said Rep. Tim Briggs, D-Montgomery, who released the report over the weekend. “House Bill 1776 simply does not raise the revenue it claims to provide.”

Sponsors of the bill estimated it would raise about $10 billion a year by increasing the state’s income tax rate to 4 percent from 3.04 percent and the state sales tax rate to 7 percent from 6 percent.

Allegheny County‘s rate, already at 7 percent, would jump to 8 percent.

Advertisements

One comment on “Report: Pa. House Bill To Abolish School Property Taxes Would Fall $1.5 Billion Short

  1. Pingback: Report: Pa. House Bill To Abolish School Property Taxes Would Fall $1.5 Billion Short | Flash Travel & Tourism News | Scoop.it

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s