The S.T.O.P. Plan to abolish ALL property taxes on homesteads is
designed to encourage home ownership. Why? Because that is how
Pennsylvania families can most quickly and effectively amass family
wealth and resources. That includes minority individuals and families, and women, all of
whom have been consistently under-represented in home ownership.
According to an article in the Washington Post on 3/10/í03, experts contend that
purchasing a home is the most stable way to build wealth in America, and Federal Reserve
data would seem to bear that out. It shows that the net worth of homeowners is significantly
higher than that of renters.
Homes are more widely held than stocks; and a 2001 survey from the National
Association of Realtors estimates that the typical homeowner had $50,000 in equity.
Moreover, the Fed reports that while homeowner equity in this country climbed by $2.7
Trillion to $7.56 Trillion between the third quarters of 2000 and 2002, stock investments
were down by $2.29 Trillion.
Additional evidence of the benefits of home ownership comes from a Fannie Mae study
which found that consumers who put $10,000 down on an $80,000 home at the end of 1989,
and sold the property in 2002 would have realized a gain of $53,423--a much bigger payoff
than an identical investment in stock funds. --End Quote from article.
Abolishment in Pennsylvania of ALL real estate (property) taxes on homesteads through
Senate Bills -- SB 717 and 718; and House Bills-- HB 1572 and 1573 will dramatically
increase home ownership possibilities for more Pennsylvanians, including young people.
More young individuals and families can get started on home ownership quicker. And less
people would be forced to give up their homes because of taxes. In both instances, we keep
people here; and these homeowners have a greater chance or building family wealth.
For more information on S.T.O.P. (Stop Taxing Our Properties) visit
www.grandoldusa.com Please contact your State Senator and Representative and urge
them to support these pieces of legislation. If your Senator needs additional information,
urge them to contact Senator Sean Logan, the prime sponsor of the Senate Bills; and if your
Representative needs additional information, urge them to contact Rep. Mark Gergley, the
prime sponsor of the PA House. If YOUR senator or representative informs you they do
support this legislation, please have them contact Bob Logue, care of KDKA Radio,
Pittsburgh, PA 15222 and express their support in writing. We will add them to our list of
supporters on our website and otherwise notify the public.
DO NOT SUPPORT ANY PLAN THAT JUST LOWERS TAXES! AND DO NOT
SUPPORT ANY PLAN THAT ADDRESSES JUST THE SCHOOL TAX AND LEAVES
THE MUNICIPAL AND COUNTY PROPERTY TAXES IN PLACE.
It is also important that we DO NOT support any plan that adds sales taxes on food and
clothing. Itís reverse Robin Hood. Robs from the common folks and gives savings to the