Support Philadelphia Public Schools without Raising Taxes

Support funding Philadelphia Public Schools without raising taxes. HB 1333 would reduce the residential 10 year tax abatement from 100% to 45% of the real estate assessment evaluation attributable to renovation or new construction in Philadelphia. Normally, 55% of the real estate taxes collected go directly to fund schools in Philadelphia. When an abatement is approved the schools lose this revenue. In 2014, the 10 year tax abatement deprived the Philadelphia Public Schools of nearly 50 million dollars. This money would close the gap in Philadelphia Public School funding