A new legislation introduced by two Pennsylvania lawmakers, aims to change the real estate tax rates. This move will not only reduce wage and business taxes along with an increase in commercial real estate taxes, but also create several jobs in the city. Although Mayor, legislators and various members of business community including NRIA have applauded the bill yet it has faced criticism from city council president. The bill introduced by Rep. John Taylor (R-Philadelphia) and Rep. William Keller (D-Philadelphia) has now been referred to the state’s finance committee.

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