Clarke and Quinones-Sanchez Introduce Legislation Incentivizing use of vacant property

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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:

http://www.philly.com/philly/news/20130607_Clarke_plans_bill_on_vacant_properties.html

 

 

 

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