Construction Tax News

Philadelphia City Council has reached a compromise with the Kenny administration on the proposed 1% Construction Tax.  In short, the Construction Tax is out. 

Instead, Council and Kenney agreed to dedicate additional tax revenue from expiring tax abatements into the City’s Housing Trust Fund, an affordable housing fund, and the City will offer “zoning bonuses” to developers who make voluntary contributions to the Fund.  These “zoning bonuses” will allow developers to expand the height, floor area or density of planned development projects. 

Read more about the compromise here.

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