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Tax

NEWS
June 24, 2015 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - New Jersey Democrats on Monday unveiled the broad contours of the budget they will submit to Gov. Christie, saying they would make a full contribution to the underfunded pension system by raising taxes on businesses and the state's highest earners. Christie, a Republican who says he will announce whether he is running for president by the end of the month, has vowed not to raise taxes. The state constitution requires the Legislature to pass, and the governor to sign, a balanced budget by next Tuesday.
NEWS
June 20, 2015 | By Tricia L. Nadolny, Inquirer Staff Writer
City Council passed a package of tax increases Thursday that will hit a wide swath of the city's taxpayers while taking in an additional $70 million for the Philadelphia School District. Under the biggest piece of the plan - a 4.5 percent property-tax increase - the owners of a house assessed at $150,000 would see their tax bill go up $72 per year. Mayor Nutter signed the tax increases, as well as the city's annual operating budget, soon after Council approved them. He said the additional school funding was badly needed but still did not fill the district's deficit, leaving the burden to Harrisburg.
NEWS
June 15, 2015 | By Kathy Boccella and Cat Coyle, Inquirer Staff Writers
Joe Rooney, a Delta Air Lines pilot who is raising five kids in Abington Township, is about to get a higher tax bill, and he isn't particularly happy about it. "We are not bringing in enough money for the spending we are proposing," said Rooney, whose annual $3,922 property-tax bill on his Maple Avenue home stands to increase by $113 as of July 1. Rooney, who is running for school board, believes the Abington School District hasn't done enough...
NEWS
June 12, 2015 | By Tricia L. Nadolny, Inquirer Staff Writer
City Council set the stage Wednesday for a wave of tax increases designed to produce $70 million for the cash-strapped Philadelphia School District. But the plan still falls far short of the district's $103 million funding request, and it appears to come with strings attached. Council plans to hold $25 million of the projected $70 million in its own budget - because it isn't keen on the district's plan to possibly outsource the hiring of substitute teachers and nurses, a move that has angered unionized teachers and their political allies.
NEWS
June 10, 2015 | By Allison Steele, Inquirer Staff Writer
Voorhees-based American Water Works has asked the New Jersey Economic Development Authority (EDA) for $164 million in tax credits to move its headquarters to Camden. The application is to be considered at Tuesday's meeting of the EDA at the Waterfront Technology Center in Camden. The EDA also will consider a request from a joint Rowan University/Rutgers-Camden board for $50 million to build a "health sciences" building in the city, according to the agenda. That building, on Broadway near Cooper Medical Center, would have classrooms, lab space and offices, and would house Rutgers-Camden's Center for Computational and Integrative Biology.
REAL_ESTATE
June 7, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
One in a continuing series spotlighting real estate markets in the region's communities. Holidays are special in small towns. Some go all out for Fourth of July, with fireworks. In some, Thanksgiving is a favorite, with Santa arriving by fire truck. In West Grove, Memorial Day gets the attention. "There's a big parade and speeches, and the whole community joins in," says Jill Callahan, an agent with Coldwell Banker Preferred in Media, who has lived in the southern Chester County borough for 18 years.
NEWS
June 6, 2015 | By Julia Terruso, Inquirer Staff Writer
Philadelphia City Council launched its school-funding counterplan to Mayor Nutter's proposed property-tax increase Thursday, calling for raising taxes on parking lots and businesses as well as a much milder boost in property taxes than Nutter wants. The three bills introduced Thursday would generate far less than what the School District says it needs. They would bring in an estimated $70 million - more than two-thirds of the $103 million Superintendent William R. Hite Jr. is seeking.
NEWS
June 5, 2015 | By Tricia L. Nadolny, Inquirer Staff Writer
With a budget deadline looming, Philadelphia City Council is close to crafting its alternative to Mayor Nutter's proposed property-tax hike to fund the city's public schools. In closed-door meetings this week, Council considered four potential revenue streams - building blocks that would fall at least $20 million short of the $103 million the School District has asked for, according to sources familiar with the discussions. On the table are a sale of city tax liens; an increase in the city's use-and-occupancy tax on businesses; a hike to the parking tax; and a real estate tax increase far more modest than the 9.34 percent proposed by Nutter.
NEWS
June 3, 2015 | By Kristen A. Graham, Inquirer Staff Writer
There is little appetite for a tax increase to help Philadelphia schools. School Reform Commission members can spend 20 hours a week, easily, on their unpaid and often frustrating job. Contract negotiations with the teachers' union are proceeding, even if the union doesn't find them productive. And, yes, the SRC talks behind closed doors about eliminating itself. (But says it's not the right time yet.) Those and other tidbits came to light during a Monday meeting at which the commission attempted to be more responsive to parents and community members.
NEWS
May 29, 2015 | BY SOLOMON LEACH, Daily News Staff Writer leachs@phillynews.com, 215-854-5903
THE CITY'S top fiscal watchdog said yesterday that he supports a multimillion-dollar tax break to help redevelop the Gallery at Market East. City Controller Alan Butkovitz released an analysis of the Tax Increment Financing plan, which essentially would give the mall's developers a 20-year tax break in exchange for future tax increases. The analysis concludes that the deal could give the city an extra $194 million. "This is a zero-risk investment for the city that could generate $194 million in new tax revenues," Butkovitz said in a statement.
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