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Philadelphia Mayor Doubtful On Proposed Construction Tax

By Matthew Nesto · June 12, 2018, 8:27 PM EDT

The mayor of Philadelphia said Tuesday a proposed 1 percent tax on new construction projects, which would help fund affordable housing, was commendable but flawed.

If approved, the so-called Construction Impact Tax would apply a 1 percent levy to all new construction and renovation projects in the city, and use the estimated $22 million annual proceeds to fund a low-income housing initiative known as Putting Philadelphians First.

After being presented in April and passed by the City Council’s Finance Committee last week, the tax measure is...

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