Senate Bill 76 Eliminates School Property Tax
SENATE BILL 76
A BOLD VISION
REAL PROPERTY TAX REFORM
Contact your state senator today and ask them to support the School Property Tax Elimination Act.PAR expects a vote on this issue the week of Nov. 16.
This legislation proposes to eliminate property taxes dedicated to school districts and replace the funding by raising the personal income tax from 3.07 to 4.34 percent and increasing and broadening the sales tax from 6 to 7 percent to include previously exempted items. Based on an economic impact study by Anderson Economic Group conducted for the Pennsylvania Association of Realtors® (PAR), the bill works.
This legislation will protect homeowners on fixed incomes and fairly tax consumers in a responsible way. Throughout the Commonwealth, rising school property taxes have made it difficult for homeowners on limited incomes to pay their taxes. By eliminating property taxes and replacing the funding with personal income and sales taxes, the burden of unreasonably high property taxes would be lifted from homeowners and fairly spread among those who consume and earn the most.