Posts Tagged ‘tax abatement’
Philly extends 10-year tax abatement for the rich and calls it an anti-poverty program
The mayor and City Council say they have a plan to reduce poverty in Philadelphia, and maybe that’s true — if the plan is to force the poor out of the neighborhoods by spending $400 million to boost gentrification. Perhaps if the plan was to give the money directly to the poor, I’d believe it…
Read More Economic recovery or gentrification?
The City of Philadelphia’s 10-year tax abatement on new construction has led to the gentrification of our most vulnerable communities. By giving huge breaks to those who build or refurbish housing, the tax abatement has increased property values in some of our poorest neighborhoods. Along the way, it has pushed out poor tenants through higher rents,…
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