Higher Property Taxes Could Be Good For Business In Philly

Law360, Philadelphia (March 4, 2016, 7:00 PM EST) -- A plan to hike tax rates on commercial real estate in Philadelphia by upwards of 15 percent is not likely to scare off developers, experts say, and could actually help goose the city's ongoing building boom thanks to related efforts to cut levies on wages and business income.

While higher taxes are typically seen as anathema to business growth, attorneys told Law360 that a proposal being pushed by Mayor Jim Kenney and state lawmakers to uncouple levies on commercial real estate from those on residential properties could help increase valuations.

Meanwhile, a related effort to slash long reviled taxes on business...

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