Philadelphia Tax Rate Changes, July 2015
- Aug 4, 2015 | Gail Cole
Rates for many taxes, such as earnings, wage, and school income taxes, have slightly decreased. Yet parking, use and occupancy tax rates have increased:
Use & Occupancy tax
- The tax rate jumped from 1.13% to 1.21%.
- The assessment exemption dropped from $177,000 to $165,300 per property per year.
- The tax rate rose from 20% to 22%.
In addition, the definition for hotel tax was amended to allow booking agents (such as Airbnb and FlipKey) to collect and remit the hotel tax on behalf of the operators, and to require booking agents to “alert operators of the Philadelphia tax obligations.” New legislation also stipulates that residential properties rented out for less than 31 nights in a row are subject to the hotel tax.
For additional information, please see this Tax Alert.