The Pennsylvania Association of Realtors launched a new website this week which highlights the benefits of Senate Bill 76. The website, RealReform76.com, is part of PAR’s efforts to promote and support this property tax reform legislation. Website visitors can easily learn whether or not their state senator supports Senate Bill 76. RealReform76.com gives consumers an opportunity to share their personal stories on how property taxes have adversely affected them. In addition, website visitors will find a section called “Myths vs. Facts,” where many rumors about the bill are corrected.
Everyone is urged to take action on the site by sending an email thanking senators who support SB 76 or urging their senators to support Senate Bill 76. Please encourage your friends, family and other consumers to visit the site as well. You can also “like” the Facebook page for RealReform76 and share the link with your Facebook friends. And don’t forget to follow @RealReform76 on Twitter.
PAR believes SB 76 will protect seniors on fixed incomes and fairly tax consumers in a responsible way. While other property tax reform measures have some support in the legislature, PAR believes SB 76 offers the most fiscally responsible option for property tax reform.
SB 76 proposes to eliminate school property taxes and replace the funding by raising the personal income tax from 3.07 to 4.34 percent and increasing and broadening the sales tax from 6 to 7 percent to include previously exempted items. Based on an economic impact study by Anderson Economic Group, the bill is nearly revenue neutral. PAR is working with the sponsors of the legislation to address drafting errors. Once corrected, PAR’s economist believes the bill will be revenue neutral. The economic study also shows that even with the increase in personal income tax (PIT), Pennsylvania would still have a lower PIT than surrounding states.