Equitable or not enough? Philly Council just changed the 10-year tax abatement

A bill that aims to “phase down” Philadelphia’s controversial 10-year tax abatement on residential construction got introduced at City Council Thursday.

Philadelphia’s 10-year property tax abatement on residential construction could be dramatically different by the end of this year.

The lion’s share of revenue lost to Philly’s tax abatement is tied to large commercial real estate projects, not single-family homes.