Friday, March 13, 2009

Raising Property Taxes During A Mortgage Crisis?

I'm trying, I'm really trying to support Mayor Nutter but news of his possible plan to raise property taxes by 17% has my faith wavering.

I know that Philadelphia is facing a budget crisis. But will someone explain to me how it can possibly be wise to raise property taxes during a time when people are struggling to make mortgage payments, struggling to keep pace with the increased public utility rates, struggling with health care costs and praying that they don't lose their jobs.

People are already leaving the city due to its infamous city wage tax. Now the Mayor wants to increase the burden of those residents who are struggling to hold on and increase the possibility of not only foreclosures but house loss due to taxes.


excerpt from:
Nutter plan: Taxes up, spending down | Philadelphia Inquirer | 03/12/2009

With his budget and five-year spending plan due to the printer by the end of the week, Mayor Nutter appears ready to call for a temporary increase in property and sales taxes, spending cuts, higher fees for city services, and sharp reductions in spending on employee salaries and benefits.

According to budget documents The Inquirer obtained, Nutter will propose two two-year tax increases: a 1 percent increase in the sales tax and a 17 percent increase in property taxes.

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