76 Place has said they will transfer ownership of the arena’s land to the City and make Payments in Lieu of Taxes (PILOTS) instead of paying property tax. To ensure 76 Place is paying its fair share, would the PILOT payments be equal to the arena’s full tax bill or would a 76 Place PILOT mean Philly misses out on tax dollars we’re owed? What taxes would 76 Place actually pay?
Pennsylvania law and its tax code provide for a PILOT (Payment in Lieu of Taxes) to be created for all professional arenas and stadiums. Like all of the arenas and stadiums in the South Philly Sports Complex, 76 Place will adhere to this law. The PILOT for 76 Place would dramatically increase the amount of […]
