Pennsylvania Governor Ed Rendell promised that slot machines at the state's racetracks would reduce property taxes, and according to an Associated Press story, proceeds from slots will reduce school property taxes by 10 percent for the next school year. So far the state has collected $90 million from slot machines.
The AP story said that on average, a home or farm owner outside of Philadelphia will see a reduction of $169. In Philadelphia, nonresidents hwo work in the city will see the 2009 wage tax reduced by five percent.
The AP story added that the Rendell administration said that based on census estimates, there are 3.1 million home and farm owners outside Philadelphia who would be eligible. Also, based on a formula developed by the legislature and governor's office, the slots money will be weighted toward homeowners in school districts where property taxes are high and incomes and property values are low.
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