Another transfer tax revenue loss for Allentown

December 6th, 2011 • Related • Filed Under

Allentown Mayor Ed Pawlowski froze all nonessential spending this week to help plug a projected $1.9 million hole in the city’s budget. The city is on pace to see $1.5 million less than projected revenues from real estate transfer fees. The slowing housing market is affecting transfer tax revenue in all municipalities in the Lehigh Valley. REALTORS® have argued for years that the transfer tax is an unstable source of revenue. LVAR will continue to advocate against the transfer tax.
 
Source: The Morning Call, 9.3.08

Republished by Blog Post Promoter

Twitter del.icio.us Digg Facebook linked-in Yahoo Buzz StumbleUpon

Post a Response