PHILADELPHIA, PA – Council President Clarke and 7th District Councilwoman Quinoñes-Sanchez introduced legislation yesterday aimed at incentivizing vacant property owners to make productive use of their builidngs. Bill 130489 calls for a 10% tax on the assesed value of vacant strutures in the City. The tax would increase in each of the first 2 years a vacant structure remains idle or not “utilized”. The tax furhter increases after 5 and 10 years of vacancy. Ohter cities with such policies include Dallas, TX, Mineapolis, MN and Wilmington, DE.
For more on this legislation click the links below:
https://www.philly.com/philly/news/20130607_Clarke_plans_bill_on_vacant_properties.html
