09/20/2012 - Philadelphia versus the suburbs. The burbs were once the clear winner when it came to the tax burden of property owners. But the suburbs are losing ground, according to The Pew charitable Trusts' Philadelphia Research Initiative.
A Pew study, "Residential Taxes: A Narrowing Gap Between Philadelphia and its Suburbs", found Philadelphia is more competitive with its Pennsylvania and New Jersey suburban neighbors when it comes to local taxes than it was a dozen years ago.
The study used a hypothetical, home-owning family of four with a household income set at the regional median, which is about $60,000 in the most recent Census data and a home valued at $180,000.
Researchers looked at the tax burden on the hypothetical family living in Philadelphia versus 237 suburban municipalities. The study found from 2000 to 2012, the total tax burden from income tax, property tax and sales tax went down in Philadelphia and went up markedly in the suburbs. While the tax burden is still higher in the city than most suburban municipalities, the gap is more narrow, according to the study.
Read the full article, Philly Living Getting Cheaper, on the NBC10 Philadelphia website.