Controller Criticizes City Realty Tax Hike

By Smeltz, Adam | Pittsburgh Post-Gazette (Pittsburgh, PA), July 11, 2018 | Go to article overview

Controller Criticizes City Realty Tax Hike


Smeltz, Adam, Pittsburgh Post-Gazette (Pittsburgh, PA)


An increase in Pittsburgh's realty transfer tax appears to be slowing both property sales and prices in the city, Controller Michael Lamb said Tuesday, citing a roughly 25 percent decline in municipal revenue from the levy.

"I still maintain that was an unnecessary increase, that it will cause the real-estate market to under-perform, and - above all - it's counterproductive to the stated goal, which is affordable housing," Mr. Lamb said in a Downtown news briefing on city finances.

Mayor Bill Peduto's office disputed the assessment, arguing in part that residential sales have shown year-over-year growth during some months. Complete sales data from Allegheny County weren't immediately available.

Council voted 7-2 in December to raise the transfer tax from 4 to 4.5 percent effective Feb. 1, positioning the Pittsburgh tax among the highest in the country. Proceeds are shared three ways - 2.5 percent goes to the city, up from 2 percent previously; 1 percent to the city schools; and 1 percent to the state.

The rate increase effectively enabled an affordable housing trust fund, an emerging aid program that's expected to offer foreclosure prevention, rental assistance, help with home repairs or other mechanisms to assist lower- and middle-income Pittsburghers.

But the city's revenue from the transfer tax dropped from about $12 million in the first half of 2017 - before the higher rate took effect - to about $9 million in the same period this year, Mr. Lamb said. He estimated the obligation to the trust fund around $5 million for 2018. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Controller Criticizes City Realty Tax Hike
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.