City Council introduced long-awaited legislation aimed at phasing down the city’s 10-year residential property tax abatement over 10 years.

Under the proposed legislation, which was introduced by Councilwoman Cindy Bass on behalf of Council President Darrell Clarke, new construction of residential housing would be eligible for a 100% abatement in the first year, 90% in the second year, and so on, decreasing to 10% 10 years after construction.

 

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credit: phillytrib.com, John N. Mitchell Tribune Staff Writer