A broad coalition of business groups in Pennsylvania is fighting proposed legislation that would raise the state's realty transfer tax 50 percent to pay for mass transit projects. The Pennsylvania Builders Association says the tax is unfair because new-home buyers are not organized to fight the measure and most of the funds will be used for projects in urban areas. More
At least nine builders have been linked to the lion's share of the 2,745 foreclosure filings in the Pocono Mountains from 2000 to 2003, according to a study that was commissioned by Pennsylvania's Housing Finance Agency and the state's banking department. Problems with foreclosures and predatory lending on new homes in Monroe County, Pa., came to light in the summer of 2003 when residents complained and allegations were published in the media. At press time, the state attorney general's office was continuing its criminal and civil investigation. A prepared statement by the Pennsylvania Builders Association stressed the need for stronger consumer education. More
By Steve Zurier. The Pennsylvania Builders Association (PBA) has released a position paper on local tax reform policy in the wake of the state's attempt to wean itself off using property taxes to fund schools and offset its $500 million-plus budget deficit. The PBA also says it's open to discussing a broad range of potential revenue sources, including increased sales taxes, a wage tax assessment, and taxes on clothing and certain prepared foods. More
