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Could School Property Taxes Be Eliminated?

When lobbying to get slot machines legalized in Pennsylvania, Governor Ed Rendell said that they would be able to reduce the amount of school property taxes that residents were paying. He said that with the additional money that would be coming in from the slot machines they would be able to offset some of the price of those taxes simply by allowing gambling dollars to replace them.

Residents voted to approve slot machines in the state, and are waiting to see how much they will be getting back from that gambling money. The state says that by the end of next year they should be able to take about $200 off each homes property tax. Now, this differs from the $300 that residents were promised, and it varies greatly from the amount that the casinos are bringing in as well.

According to state records, the casinos are bringing in $10.63 billion so far. If residents are paying $10.83 in property taxes a year, that leaves only about $200 million short from what the casinos are bringing in. This means that the state could be cutting property taxes more than a simple $200 per household. The state says that once they reach $750 million residents will see a break, but with the amount of money that is coming in, they should be getting a break already.

This means that if residents can gamble away more than $10.63 billion then the government needs to eliminate gambling and come up with another plan. With that amount of money being wasted out there property taxes could have been eliminated, instead of simply reduced by a couple of hundred of dollars.

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