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  • 1 year ago
Smart Talk 06/12/2017: How realistic is property taxes reform?

Smart Talk 06/12/2017: How realistic is property taxes reform?

Efforts to bring property tax relief to homeowners or eliminate property taxes in Pennsylvania have gained momentum in recent years. The property tax is perhaps the state's most hated tax. However, there are challenges to just making it go away.
The property tax is the biggest local source of income for schools. Pennsylvania's 500 school districts bring in about $13 billion a year from property taxes. Obviously, that money would have to be made up somewhere and therein lies the biggest challenge. Proposals have been made to replace property taxes with higher income and sales taxes and tax more items that aren't subject to sales taxes now.
No matter how the revenue is replaced, some taxpayers would pay more and others less meaning there are winners and losers.
School districts aren't thrilled with eliminating property taxes because they're reliable and aren't necessarily impacted by ups and downs in the economy.
On Monday's Smart Talk, we get a comprehensive report on the latest pr

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