• Philly Tax issues

    Philadelphia has a 7% tax on outdoor advertising but still wants to squeeze businesses and out of home companies for more.  In 2016 the city decided to try to raise $118 million in additional revenue by reassessing 65,000 commercial and industrial properties, leaving 515,000 residential property parcels untouched.  A group of Philadelphia landlords sued the city in March 2017, alleging that the plan to reassess commercial properties but not residential properties violates the uniformity clause of the Pennsylvania constitution.  In December 2017 Clear Channel Outdoor and Outfront joined the lawsuit.

    Insider’s take:    Seems outrageous to decree that only 11% of real estate parcels need higher assessments.  If the politicians need money that badly, they should have the courage to make everyone chip in.  How about another approach: If Philadelphia is that desperate for money why not license billboards on city land.  Philly generates additional revenue.  Out of home advertising companies generate jobs and profits.  Local businesses get a chance to reach consumers and grow.


    Paid Advertisement

     

    Print Friendly, PDF & Email

    Comments are closed.