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Pennsylvania State Senate
04/25/2024 01:00 PM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=18293
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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: May 6, 2015 04:38 PM
From: Senator Vincent J. Hughes
To: All Senate members
Subject: Governor's Budget Package Legislation Regarding Property Tax Relief
 
In the near future I will be introducing legislation on behalf of the Governor that is included in the 2015-16 fiscal year budget providing for historic property tax relief.

The 2015-2016 Budget enacts significant dollar-for-dollar tax relief to finally cut school property taxes by $3.8 billion—more than a 50 percent average reduction in homeowner and farmstead property taxes. This tax reduction will target greater relief to high-tax, high-poverty communities and will revitalize communities across the commonwealth—creating economic growth and transforming the fates of boroughs, villages, towns and cities.

This plan also goes further than ever before to prevent future property tax hikes. In order to keep property taxes down, the Governor’s proposal will maintain Pennsylvania’s existing limits on school property tax increases and enact stricter prohibitions on the ability of school districts to raise property taxes.

This $3.8 billion property tax relief package, which will be effective in the 2016-17 school year, includes:
  • Significant school district property tax relief for homeowners. Homeowners in many communities will receive the maximum reduction in their property tax bills allowed by the Pennsylvania Constitution. A total of 270,000 senior households - nearly 30 percent - will have their school property taxes eliminated, and the average homeowner will receive a 50 percent school district property tax cut;
  • Additional millage rate relief. Remaining funds will be used to reduce the property tax millage rate for both homeowners and businesses;
  • Rebates for renters. Renters having $50,000 or less in household income will receive a rent rebate, capped at $500.

To achieve this historic tax relief, the 2015-16 Budget enacts changes to the personal income tax and sales tax based on proposals from the General Assembly. The plan also incorporates more than $600 million in revenue from gaming that is already being dedicated to property tax reduction.

I hope that you will join me by co-sponsoring this legislation.

Introduced as SB118