Officials Have Great New Idea for Funding Philadelphia Schools: Collect Taxes
CBS Philly reports that City Hall is promising a more-vigorous effort to collect the “school tax,” in light of the district’s ongoing funding woes. “The so-called School Tax is a tax that many Philadelphians have never heard of. It applies to income from dividends, short-term capital gains, and other unearned income outside of retirement accounts. Revenue commissioner Clarena Tolson told City Council’s Rules Committee today that the tax often goes unpaid, due to ignorance or deception.”
The tax generated about $25 million last year, officials say.