America’s great cities are in trouble, Philadelphia included. The allure of the home office has enticed white-collar workers to the suburbs and reduced the value of commercial and residential real estate, shortchanging city tax coffers in the process. According to Philadelphia’s newly released FY2022 financial report, real property taxes dropped by over $20 million from the year prior.
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Jordan McGillis is a Paulson Policy Analyst at the Manhattan Institute
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