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​Philly Tax Gap Shrinks | #ClosingTalk Ep. 35

Written by Posted On Wednesday, 23 November 2016 12:53

The tax disadvantages of living and working in Philadelphia are lessening.

Torey is Founder & Leader of URBN HMES: A client focused real estate experience that blends conventional principles with modern lifestyle to ensure comfort and optimal performance in a constantly changing marketplace.

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Recently another study from Pew Charitable Trusts was released. This study examined the tax-competitiveness of Philadelphia vs the surrounding suburbs, and the results bode well for Philly.

The main details from the report were:

  • In 2000, the average gap between the city and suburbs was 3.7 percentage points. In dollar terms, adjusted for inflation, the family went from saving an average $2,410 in taxes in 2000 by living and working in the suburbs to saving just $390 in 2015.
  • Suburban residents who work in Philadelphia had the worst tax situation. A family earning its income in the city and owning a home in the suburbs instead of Philadelphia saved about $300 in 2000 but lost $1,210 in 2015.

What does this mean for you Philadelphia?

This is yet another indicator of progress for the city. Although the city and its policies are far from perfect, this is just one more complaint that people make against living in the city that is losing its relevance. The growth of this city is inevitable. Now you need to ask yourself, are you a part of it?

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FYI: this article originally appeared on my website.


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Torey Howarth

WHAT I DO:  I save you time and energy by guiding you throughout the home buying and selling process.


HOW I DO IT:  I connect the dots between what you think you know and what you don't yet know but need to know.  The internet can make us feel like we know it all and don't need a real estate agent, when in fact what it actually does is it gives us much more information than we know what to do with.  I blend my proprietary insight gained through many conversations, observations, and years of experience with what you already know to create a useful action plan to get us from point A to point B.  For all of the moments in between those big moments, I rely on consistent communication to prevent your mind from wandering away, so we can stay laser-focused on the end goal. 


WHAT MAKES ME DIFFERENT:  My approach.  I am a Millennial who understands real estate by internalizing why things work the way they do.  By understanding the "why", I can provide insight on a deeper level and align you with better opportunities in any market.  I get to understanding the "why" by working really hard and caring a lot about my clients and everyone around me.


ABOUT ME:  I became passionate about real estate when I thought it was really cool people owned big buildings (Even cooler that people paid the owners of those buildings more than what it cost them to own it).  From that day, I devoted a lot of time, effort, and energy to internalizing how to invest in real estate.  Flash forward to today:  I am not only continually learning on a daily basis, but i am also executing daily while paving my own path to spreading real estate insight and offering reliable real estate representation.



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