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Allentown committee forwards 0.5% realty transfer tax increase to council for housing funds
Summary
Community and Economic Development committee forwarded Bill 92 to the full council proposing a 0.5% increase to the realty transfer tax (section 570-13) to raise revenue for housing-related needs; the measure was described as a revenue tool to address housing issues.
The Community and Economic Development Committee reported that it met Nov. 12 and forwarded Bill 92 to the full council. Chairwoman Mota said the ordinance would amend section 570-13 of the city's realty transfer tax ordinance to increase the realty transfer tax rate by 0.5 percentage points, with the stated purpose of raising funds to address housing-related issues.
According to the committee report, the proposal is framed as a targeted revenue measure to raise funds "to deal with issues relating to housing." The bill was forwarded favorably to the full council; the committee scheduled a meeting Dec. 3 to review Bills 97 and 98 as well.
The measure will next be considered by the full council at committee review; the transcript contains the committee report and the ordinance caption but does not record a full council debate or vote on Bill 92 at this meeting.
If approved, the ordinance would amend the specified section of the realty transfer tax code; the transcript identifies the section number and the 0.5% increase, but does not provide estimated revenue yields or an implementation timeline. Those fiscal details were not specified in the meeting record and should be confirmed with the city finance office.
