Emergency Rental Assistance EndsThe IFO posted a third research brief that examines the end or phase-out of various programs tied to the federal public health emergency that will impact the state economy. The brief examines trends in eviction filings since the onset of the pandemic and the use of $1.6 billion in funds received for the Emergency Rental Assistance Program throughout the state. Tags: assistance, brief, rental, research |
Emergency rental Assistance EndsThe IFO posted a third research brief that examines the end or phase-out of various programs tied to the federal public health emergency that will impact the state economy. The brief examines trends in eviction filings since the onset of the pandemic and the use of $1.6 billion in funds received for the Emergency rental Assistance Program throughout the state. 03/06/2023 |
PBB_2019_DGS_Report.pdfa facility condition assessment of historic buildings to develop a preservation roadmap. Review cost allocation of facility and rental expenses. This review recommends that DGS, in con- junction with the Budget Office, review the allocation of facility management costs, utility costs and lease/rental payments across all occupied space managed by DGS. The review should consider whether the Commonwealth would benefit from adopting a billing model Hits: 14 |
SUT Exemption for Aircraft - January 2013.pdfthat is rented or leased for the purpose of storing aircraft is not subject to tax unless the rental or lease qualifies as a self-storage service. In order to be considered self-storage, the building or space must be secure to the statewide average. The second industry (NAIC 488119, other airport operations) is much broader and includes hangar rentals, parking services, cargo and baggage handling services, as well as other airport support services. This industry also includes “fixed based operators” who Hits: 8 |
MER-2015-03.pdf5% 4.7% March 2015 Monthly Economic Report Independent Fiscal Of Ðice ‐ Commonwealth of Pennsylvania Snapshot: Millennials Increasingly Rent, and Rental Prices Increase In a recent speech, a governor of the Federal Reserve Board stated that members of the millennial generation a national trend, and may signifi‐ cantly affect the millennial generation. 3 The paper notes that the increase in millennial rentals is partly ex‐ plained by cultural factors such as delayed marriages, but is probably more strongly related to the financial Hits: 8 |
Five_Year_Outlook_2021.pdf3 billion through December. ▪ Federal stimulus legislation authorized the U.S. Department of the Treasury to provide funding for emergency rental and homeowner assistance directly to tenants and homeowners. Ap- proximately $1.5 billion has been authorized for use in Pennsylvania 11.0 21.0 0.2 32.2 Expanded Child Tax Credits 0.0 3.3 0.1 3.5 Rental and Homeowner Assistance 0.0 1.5 0.4 1.9 Paycheck Protection Program (PPP) 20.7 10.0 0 Hits: 8 |
Five_Year_Outlook_2020.pdfsupport, no funds were included for general local aid in CY 2021. Targeted funds for public transit ($451 million) and rental assistance programs ($278 million) provided to local housing authorities compose most of the projected amount for CY 2021. Other economic forecast is the expiration of the renter eviction moratorium, and how missed payments impact landlords and the long-term rental market. 2020.1 2020.2 2020.3 2020.4 2020 S&P 500 Index 10.9% 0.3% 11.9% Hits: 8 |
RB_2023_03_Rental_Assistance.pdfmoratorium in 2020 (-38,000 eviction filings for year) but partly recovered in 2021 despite moratorium extensions and availability of rental support (-27,100) and exceeded the baseline in 2022 (+13,800). 1 Peter Hepburn, Renee Louis, and Matthew Desmond. Eviction 2021 2022 moratorium begins fed. moratorium ends ERAP starts state moratorium ends, federal continues Source: Princeton University Eviction Lab. Emergency Rental Assistance Ends Independent Fiscal Office | Research Brief | March 2023 Independent Fiscal Office Page 2 In December 2020, the federal government Hits: 7 |
TC_2021_Entertainment_Economic_Enhancement_Program.pdftour may not exceed $0.8 million (or up to $2.0 million with higher levels of qualified tour equipment rentals/purchases). The general findings of this report are as follows: ▪ Three other states offer a tax credit for live musical rehearsal expenses are costs incurred during a rehearsal at a qualified rehearsal facility and con- sist of the purchase or rental of concert tour equipment, food and accommodations, and other costs related to construction, photography, staging and lighting. Qualified tour expenses Hits: 6 |
PBB_2022_PHMC_REPORT.pdfs mission. Local partners derive revenue that is reinvested in the sites from mem- berships, admissions, fundraising, grants, donations and rental income. These local funds averaged $5.1 million per annum between FY 2016-17 and FY 2018-19, but declined and museums. Historic sites and museums are sup- ported by local partnerships that derive revenue from memberships, admissions, fundraising and rental income. These lo- cal partners use the revenue to supple- ment staff and to support the site or mu- seum Hits: 6 |
PBB_2020_DOH_REPORT_Final_Update.pdfdepartment seeks to reduce the incidence of tuberculosis (TB) and provide essential services to adults with end-stage renal disease (ESRD). Through the use of state and federal funds, the department strives to improve and sustain services to support a statewide people identified with TB, (2) sustain and reduce incidents of TB and (3) efficiently manage people diagnosed with renal disease by reducing costs for daily needs. The expected outcomes are the reduction and containment of diseases and funding basic life needs Hits: 6 |
Five_Year_Outlook_2019.pdfuptick in growth for FY 2020-21 (4.0 percent) is due to the return of the authority rentals and sinking fund requirements (commonly known as PlanCon reimbursements, discussed further in the education subsection). Strong growth in DHS expenditures for 2 Includes the Department of Corrections and the Board of Probation and Parole. 6 Also called the "authority rentals and sinking fund." 4 Only includes state General Fund share. 8 Includes all non-pension benefits such as health and life insurance Hits: 6 |
TC_2019_Historic_Preservation_Tax_Credit_Report.pdfthe full value of the tax credit. 19 15 Utah and Indiana offer credits for residential properties or rental properties only. New Mexico offers credits to properties listed in the State Register of Cultural Properties and per project caps are $25 2016 and found the following gains in property value after rehabilitation: 185 percent (commercial property), 201 percent (market rental), 399 percent (other property such as churches, museums and theatres) and 48 percent (residential, typically multifamily). 35 Higher tax assessments translate into Hits: 5 |
TC_2019_Film_Production_Tax_Credit_Report.pdfindependent contractors. It also reflects the economic value of other types of expenses, purchases and income such as rental expenses, equipment purchases and profits. State GDP is a much broader metric than the employment data used in Table 4. Table 5 the share paid to Pennsylvania residents (34.0 percent) compared to feature films. Non-wage expenses include various rentals (e.g., equipment), lodging for crews and actors, catering and per diem expenses, construction and other miscellaneous ex- penses. The final line Hits: 5 |
platt ppt.pdfManufacturing Construction Administrative & Waste Wholesale Trade Finance & Insurance Professional Services Nondurable Manufacturing Management Transportation & Warehousing… Retail Trade Information Real Estate, Rental & Leasing Accomodations & Food Service Other Services Utilities Farm Ag. Services Railroads Mining Military Arts, Entertainment, & Rec. Federal Civilian Govt Educational of $) -5,000 0 5,000 10,000 15,00020,000 Total Information Railroads Military Ag. Services Farm Real Estate, Rental & Leasing Federal Civilian Govt State and Local Govt Nondurable Manufacturing Utilities Finance & Insurance Retail Trade Construction Arts, Entertainment, & Rec. Other Hits: 5 |
PBB_2022_DHS_REPORT_ADDENDUM.pdf6 26.0 -- Children's uninsured rate 7 4.4% 4.4% 4.4% 4.6% -- -- Federal COVID Relief Emergency rental assistance ($ millions) -- -- -- -- $564.5 $440.9 Key Metrics to Monitor Notes: HCBS is home- and community-based services. ED is of 5.7%. See page 49 for more details. Federal COVID Relief Federal COVID-19 relief funds for the Emergency Rental Assistance Program are distributed under the DHS Homeless Assistance Program. Those funds totaled $564.5 million in FY 2020-21 Hits: 5 |
Five_Year_Outlook_2022.pdfretirement contributions, pupil transportation, school employees’ Social Security, early inter- vention, level-up supplement, Ready to Learn Block Grant, Authority Rentals and Sinking Fund and other miscellaneous expenditures. 12 From FY 2022-23 to FY 2027-28, Pre-K to Grade with slightly higher growth in Public School Employees’ Retirement (3.0% per annum) and nearly flat growth for the Authority Rentals and Sinking Fund line item. Post-Secondary For FY 2022-23, PDE’s post-secondary appropriations are $1.49 billion Hits: 5 |
Monthly_Economic_Update_September_2021.pdfseries better reflects inflation for actual consumer purchases because it excludes rent imputed to homeowners. Data Reveal Steep Increase in Rental Prices Across Pennsylvania Recent data collected and compiled by two non-governmental firms find rapid growth in rental prices for urban areas across the state. On August 26, Apartment List released rent estimates for August 2021 that show Hits: 4 |
Monthly_Economic_Update_August_2021.pdfthe summer including: Airline Fares (+19.0%), Lodging Away from Home (+21.5%) and Gasoline (+41.8%). Car and Truck Rental prices grew 73.5% compared to last July. The large price increase is the result of greater demand for rental vehicles and supply constraints in new vehicle markets, rather than a rebound from the previous summer (prices fell just 3 Hits: 4 |
Like-Kind_Exchange_Analysis.pdfTreasury Department used the following example. 8 In a typical three-party exchange, Firm A would like to exchange a rental property for the rental property of Firm B. Firm B does not want Firm A's rental property, but would like a property owned Hits: 4 |
SD_Prop_Tax_Update_Jun_2023.pdf2021. Table 2 displays estimates of SD property taxes remitted by (1) non-senior homeowners, (2) senior homeowners and (3) rental/commercial over the last three fiscal years. In FY 2021-22, non-senior homeowners remitted an estimated $6.2 billion property taxes, senior homeowners remitted an estimated $3.3 billion, and the remaining $6.5 billion was remitted by residential rental and other commercial properties. Table 3 displays the top and bottom five counties based on SD property tax revenue per Hits: 3 |
RB 2019 Natural Gas Royalties.pdfForm PA-40, line 6). Unfortunately, royalty income is not reported separately on the tax return, but is combined with rental, patent and copyright income. However, given (1) the relatively recent surge in natural gas drilling (and by extension royalty payments to Estimate Royalty Payments Royalty income is not reported separately on the Pennsylvania income tax return, but is combined with rental, patent and copyright income on line 6 of the PA-40 return. In order to isolate natural gas royalty payments Hits: 3 |
Official-Revenue-Estimate-2020-06.pdfdramatic impact on non-wage income such as corporate and non-corpo- rate profits, dividends, capital gains and rental payments. Table 1.7 displays the assumptions used for this revenue estimate for large non-wage income sources that impact remittances of unemployment, lower wage growth and reduced non-withheld earnings (e.g., net profits, capital gains, dividends, interest and rental payments). Realty Transfer The revised RTT estimate for FY 2019-20 is $504 million. The estimate reflects a decrease of $31 million Hits: 3 |
MQRE-FY19-20-Aug.pdfthe fair market value up to a maximum of $32,000, or (2) ten percent of the gross rental income in each of the first three years of the rental agreement, up to a maximum of $7,000 per year. The credit is capped at $5 million for tax year 2020 and Hits: 3 |
Ironman_Triathlon_Impact_Analysis_2024_04.pdfhad to be used for the following purposes: • $45,000 for Site Fees which could include promotional materials, labor and rental fees at Beaver Stadium and the Penn State campus, and event hospitality. • $25,000 for the Ironman Annual Host City reported $818,000 was spent on event planning and production. • The Ironman Group spent $665,000 on personnel costs, equipment rental, public safety and lifeguard services, traffic control, travel expenses and other operations. This includes amounts paid to Penn State or Hits: 3 |
TC_2021_Video_Game_Production.pdfdents (52.4 percent) was much larger than paid to non-residents (0.8 percent). Non-wage expenses include various rentals (e.g., facilities), as well as production, operation, payments to independent contractors and other miscellaneous expenses. The final line in 52.4 percent to Pennsylvania residents as wages and 46.9 percent to Pennsylvania goods and services providers (e.g., rental of facilities, lodging and production and operation costs). Line 11 For this analysis, payments to non-residents are not included Hits: 2 |
Tax_Credit_and_PBB_Overview_2019-01-24.pdf0 Note: Includes all DGS expenditures in $ millions. 2018-19 General Fund Appropriations January 24, 2019 18 DGS Activities GGO Rental and Municipal Charges Utility Costs Capitol Police Operations Capitol Fire Protection Excess Insurance Coverage Total Facilities & Energy Resource Mgmt. $31 7 13.9 5.0 1.3 120.7 Note: Amounts in $ millions. Recommendations Review cost allocation of facility and rental expenses. • Incentivize agencies to use space more efficiently. • Allocate these costs across all funding sources. Develop an occupancy report for Hits: 2 |
TaxCredit and PBB Overview- 2019-01-24.pptx0 Note: Includes all DGS expenditures in $ millions. 2018-19 General Fund Appropriations January 24, 2019 18 DGS Activities GGO Rental and Municipal Charges Utility Costs Capitol Police Operations Capitol Fire Protection Excess Insurance Coverage Total Facilities & Energy Resource Mgmt. $ 31 7 13.9 5.0 1.3 120.7 Note: Amounts in $ millions. Recommendations ▪ Review cost allocation of facility and rental expenses. • Incentivize agencies to use space more efficiently. • Allocate these costs across all funding sources. ▪ Develop an occupancy report for Hits: 2 |
TaxCredit and PBB Overview- 2019-01-24.pdf0 Note: Includes all DGS expenditures in $ millions. 2018-19 General Fund Appropriations January 24, 2019 18 DGS Activities GGO Rental and Municipal Charges Utility Costs Capitol Police Operations Capitol Fire Protection Excess Insurance Coverage Total Facilities & Energy Resource Mgmt. $31 7 13.9 5.0 1.3 120.7 Note: Amounts in $ millions. Recommendations Review cost allocation of facility and rental expenses. • Incentivize agencies to use space more efficiently. • Allocate these costs across all funding sources. Develop an occupancy report for Hits: 2 |
Select Committee Oct 1 2012 FINAL.pdfrelief. Again, more developed areas get less relief. As a group, generally worse off under proposal. Any rental relief would occur over many years. Little immediate relief. 1.Oct.2012 Analysis of HB 1776 and SB 1400 of Potential for significant reduction in tax. Firms with much real property gain. 1. Large manufacturers. 2. Firms engaged in rental of real estate. 3. Certain telecommunication firms. 1.Oct.2012 Analysis of HB 1776 and SB 1400 of 2012 – Slide Hits: 2 |
SD_Prop_Tax_Update_Aug_2022.pdftaxes, senior homeowners remitted an estimated $2.9 billion, and the remaining $6.4 billion was remitted by certain residential rental and other commercial properties. Table 3 displays current, interim and delinquent school district property tax revenue per capita by county 41.3% $6.44 41.0% Senior Homeowner $2.68 17.8% $2.78 18.1% $2.89 18.4% Rental/Commercial $6.08 40.5% $6.21 40.5% $6.37 40.6% Note: Dollar amounts in billions. Share represents Hits: 2 |
Revenue_Estimate_2022_06.pdfof $835. The amount for CY 2022 ($1.5 billion) represents nine months (January through September) of expanded ben- efits. Rental and Homeowner Assistance allocated to the state in CY 2021 also remains available for use in CY 2022. Residual amounts Impact Payments 11.0 21.0 0.2 32.2 Expanded Child Tax Credits -- 3.4 0.1 3.5 Rental and Homeowner Assistance -- 2.0 0.0 2.0 Paycheck Protection Program (PPP) 20.7 10.0 0.0 30 Hits: 2 |
Revenue_Estimate_2022_05.pdfof $835. The amount for CY 2022 ($1.5 billion) represents nine months (January through September) of expanded ben- efits. Rental and Homeowner Assistance allocated to the state in CY 2021 also remains available for use in CY 2022. Residual amounts Impact Payments 11.0 21.0 0.2 32.2 Expanded Child Tax Credits -- 3.4 0.1 3.5 Rental and Homeowner Assistance -- 2.0 0.0 2.0 Paycheck Protection Program (PPP) 20.7 10.0 0.0 30 Hits: 2 |
Revenue_and_Economic_Update_Presentation_2020_10.pdfmuch delinquent rent? | What estimates do we believe? U.S. Census: 18.8% of PA renter households missed last rental payment (Oct 2020) Impacts 300,400 renter households (new experimental Pulse Survey) Philly Fed: 4.5% of PA renter households have rental debt by Dec (IPUMS) Impacts 48,100 renter households | $224 million debt | $4,700 average Taxable status of Paycheck Hits: 2 |
Revenue-Estimate-2020-05.pdfdramatic impact on non-wage income such as corporate and non-corpo- rate profits, dividends, capital gains and rental payments. Table 1.7 displays the assumptions used for this revenue estimate for large non-wage income sources that impact remittances of unemployment, lower wage growth and reduced non-withheld earnings (e.g., net profits, capital gains, dividends, interest and rental payments). Realty Transfer The revised RTT estimate for FY 2019-20 is $494 million. The estimate reflects a decrease of $41 million Hits: 2 |
Response_Letter_9_23_2019.pdfcontext regarding a potential order of magnitude for those payments, a hypothetical example is as follows: If owners of residential rental units remit 10 to 15 percent ($1.4 to $2.2 billion) of all school district property tax and if all property tax on rental units was passed through to renters, then CEX data September 23, 2019 Page 4 suggest that senior renters might effectively Hits: 2 |
Response_Letter_2021_April.pdfcontext regarding a potential order of magnitude for those payments, a hypothetical example is as follows: If owners of residential rental units remit 10% to 15% ($1.5 to $2.2 billion) of all school district property tax and if all property tax on rental units was passed through to renters, then Consumer Expenditure Survey (CEX) data suggest that senior renters might effectively pay one- Hits: 2 |
Response-Letter-05-13-2019.pdflater years estimated at $530 million. 10 Homestead school district property tax and school district property taxes levied on residential rental properties. The IFO assumes that residential rental properties generate 16.5 percent of school district property taxes. 5 Represents the value of the new exemption for retirement Hits: 2 |
RB-2020-10-Impact_of_TCJA_on_PA_Taxpayers.pdfand do not include exempt income, unreported income or material subsidies that flow to individuals such as federal assistance with rental payments and food purchases. Table 1 (page 4) lists amounts reported for these fields by Pennsylvania residents on the federal been reported but was not) for Schedule C income (sole proprietors, independent contractors and self-employed) is 56 percent and rental income is 51 percent. See “Federal Tax Compliance Research: Tax Gap Estimates for Tax Years 2011-2013,” Internal Revenue Service Hits: 2 |
PBB_2023_DCNR_REPORT.pdfAn increase in fees per visitor indicates that more people used facilities and services that required payment, such as cabin rentals, boat rentals and marina services. The figure below shows vacancy rates for park rangers (wage only) and lifeguards at state parks. The Hits: 2 |
PBB_2020_DOS_REPORT.pdfEducation Provider 560 647 41 42 42 Real Estate Salesperson 1 1 37,250 41,848 42,094 Rental Listing Referral Agent (RR) 1 37 38 3 3 2 Rental Listing Referral Agent (SR) 1 3 4 1 1 1 Time Share Salesperson 44 40 186 190 143 Total 48,171 51 Hits: 2 |
Monthly_Economic_Update_October_2021.pdfas Average Rents Surge On September 27, Apartment List released rent estimates for September 2021 that reveal an overall monthly rental price in Pennsylvania of $1,129, an 11.5% increase from the prior year (based on five metro areas, weighted YOY) basis, while rents in Pittsburgh increased 9.5%. Due to a lag in data collection and different methodologies, this rental price surge is not yet reflected in the official data used to compute the regional Consumer Price Index (see graph Hits: 2 |
IFO - Economic and Budget Outlook - January 2012.pdfbecause that series is published in a more timely manner. Personal income is equal to the sum of wages, proprietor, rental, dividend, and interest income plus various government transfers such as social security and unemployment compensation. 2 For the FY 2011- tax revenues as a share of state personal income 10 Personal income is equal to the sum of wages, proprietor, rental, interest and dividend income plus all transfer payments from the federal or state government (e.g. Social Security, unemployment benefits Hits: 2 |
Five_Year_Outlook_2023.pdflevels relative to the overall economy, but remain elevated due to permanent gains realized during the pandemic (e.g., less rental expense for office space, lower meals and entertainment expenses). ▪ Revenue reduction from lower Treasury collections: -$117 and -$355 million. This throughout the forecast horizon, with adjustments to reflect actual prices received from sales of the gas extracted from state lands. Rentals and bonus payments are projected to remain flat. The forecast reflects the following assumptions: ▪ Disbursements from the fund represent statutory Hits: 2 |
EPLC_3_4_2022_update.pdfPayments 11.0 21.0 0.2 32.2 New Child Tax Credit Awards -- 3.4 0.1 3.5 Rental and Homeowner Assistance -- 1.8 0.0 1.8 Paycheck Protection Program (PPP) 20.7 10.0 0.0 30 1.79 million, $3.3 billion FFY 2021 1.79 million, $5.2 billion Current extension to March 2022 Emergency Rental Assistance Sept to Nov 2021 $72 million/month Assume relief runs through Sept 2022 General Fund Financial Statement March 4 Hits: 2 |
2006_surviving_spouse_healthcare_study.pdfof its particular industrialoperation. Every such lease shall provide for the deposit of industrial floor space rentals and sewageand water rentals in a restricted receipts fund, from which the department may draw moneys for use in developing, operating and maintaining the water and sewage disposal Hits: 2 |
index.cfmMarch 13, 2023 Director Knittel provided an economic update to the PA Chamber of Business and Industry. ... (Full Report) Emergency Rental Assistance Ends Economics and Other March 06, 2023 The IFO posted a third research brief that examines the end or filings since the onset of the pandemic and the use of $1.6 billion in funds received for the Emergency Rental Assistance Program throughout the state. ... (Full Report) Natural Gas Production Report, 2022Q4 Energy March 02, 2023 This report for the Hits: 2 |
TC_2022_Mixed_Use_Development.pdf1,300 (three-bedroom) per month. Commercial space ranged in size from 1,000 to 18,000 square feet with rental rates ranging from $1.50 to $20.00 per square foot. Approximately 80% of construction projects were renovation or rehabilitation Hits: 1 |
TC_2020_Keystone_Innovation_Zone_Tax_Credit.pdf0.2 0.2 0.4 51 Information 2.2 2.5 3.0 53 Real Estate and Rental and Leasing 0.1 0.0 0.1 54 Professional, Scientific and Technical Services 10.5 8.8 7.5 56 Administrative Hits: 1 |
TC_2019_New_Jobs_Tax_Credit_Report.pdf51 Information 2,382 6,646 52 Finance and Insurance 1,267 2,434 53 Real Estate and Rental and Leasing 115 230 54 Professional, Scientific and Technical Services 3,797 8,858 56 Administrative and Support Services 996 1,542 Hits: 1 |
Summary_Tax_Credit_Reviews_Oct_2023.pdfare difficult to quantify: (1) improved property values and the “halo effect”, (2) development waves and clustering, (3) more affordable rental units, (4) environmental benefits and (5) community and/or social benefits. Recommendations ▪ If the tax credit is extended, increase the Hits: 1 |
Smetters_Presentation_Full.pdf26.08 28.90 28.52 27.88 TCJA 14.30 20.82 20.71 18.61 Real estate and rental and leasing Current law 26.50 30.22 29.30 27.99 TCJA 10.85 22.96 24.17 20 Hits: 1 |
Revenue_Estimate_Presentation_2022_05.pdfBillions of dollars. Does not include state funded UC ($5.2 billion in 2020, $0.8 billion in 2021) and Rental Assistance ($2.0 billion in 2021). Payroll Jobs Compared to Pre-Pandemic Levels May 23, 2022 6 Change From April Hits: 1 |
Revenue_Estimate_2021_05.pdfand available through CY 2024. Additionally, projections include targeted funds for public transit ($1.4 billion) and affordable housing and rental assistance programs ($792 million). ▪ Other support was authorized by the federal government for CY 2020 and CY 2021. These funds Hits: 1 |
RB_2023_07_CNIT_Data.pdfreal estate sectors reported $404 million (13.5%) of tax liability. This sector includes credit intermediation firms, insurance carriers and rental car firms. The management sector ($192 million) includes a number of large holding companies that could be included in Hits: 1 |
RB-2020-COVID-19 Local Revenue Impact.pdfvalue include an extra reduction of 0.25 or 0.50 percentage points. That adjustment reflects economic stress of commercial rental properties and small businesses. 7 Data from the U.S. Census Bureau show that one-quarter of Pennsylvania renters missed Hits: 1 |
Pitt_Chamber_Presentation.pdf200 131,600 ii. S corporations 945,900 408,300 iii. Partnerships 296,200 354,900 iv. Sole proprietors, farmers, rental 4,403,000 1,551,700 Concerns expressed by policymakers How do we replace the lost revenues if we Hits: 1 |
PICA_Presentation_2020_11.pdfand remote working Gasoline consumption down ~10% | ~$1.5 billion spending (redirected) Excess supply in commercial real estate rental market Less business travel, accommodation and dry cleaning services New spend patterns, more on-line sales and productivity gains Hits: 1 |
PBB_Board_Hearing_Jan_25_2022.pdflikely transition back to CHIP when the federal Public Health Emergency ends Federal COVID-19 relief funds for the Emergency Rental Assistance Program totaled $564 million in FY 20-21 and $441 million in FY 21-22 ▪ Federal measures required include Hits: 1 |
PBB_Board_Hearing_Jan_24_2022.pdfsignificantly impact state program outcomes over multiple years ▪ PDE – ARP ESSER funding for K-12 schools ($5 billion) ▪ DHS – emergency rental assistance ($1 billion) ▪ State agencies required to report use of funds and associated outcomes January 24, 2022 3 Department of Hits: 1 |
PBB_2023_EO_REPORT.pdfSpecial Allowance, Medical Assistance Buy-In, SNAP Trafficking Penalty, SNAP Trafficking Buyer, Low-Income Household Water Assistance Program and Emergency Rental Assistance Program. Office of the State Inspector General | Page 29 ▪ It is recommended that OSIG and DHS collaborate to track Hits: 1 |
PBB_2022_AGRICULTURE_REPORT.pdf5.0 $5.0 $5.0 $5.0 Parking revenue 2.1 2.2 2.3 2.0 0.0 Rentals 3.1 2.8 3.6 2.3 2.5 Concessions 1.0 1.2 1.3 1.2 0 Hits: 1 |
PBB_2020_DHS_REPORT_Final_Updated.pdf4,522 Audiologist 516 Pharmacy 3,328 Nurse 516 Psychologist 2,517 Home Health 362 Podiatrist 1,816 Renal Dialysis Center 333 Certified Registered Nurse Practitioner 1,772 Funeral Director 327 Clinic 1,297 Certified Nurse Midwife 255 Inpatient Facility 1 Hits: 1 |
PA_Economy_League_Presentation.pdfproperty tax, the non-business portion includes certain property that would not qualify as homestead property (e.g., vacation homes, rental homes). Figures represent the statutory tax incidence, or the entity that appears to pay the tax. The economic incidence will Hits: 1 |
PA_Assoc_of_Community_Bankers_Presentation_2020_12.pdfand remote working Gasoline consumption down ~10% | ~$1.5 billion spending (redirected) Excess supply in commercial real estate rental market Less business travel, accommodation and dry cleaning services New spend patterns, more on-line sales and productivity gains Hits: 1 |
PACB_Presentation_2021_8.pdffirst month with only CTC payments, no federal UC Higher inflation unlikely to be transitory ▪ Delayed response in housing and rental markets ▪ Pressures remain in both markets in short-term due to lags ▪ Food prices beginning to rise rapidly | continued supply Hits: 1 |
PACBI_Presentation_March_13_2023.pdfWage-Price “Persistence” is 5% wage growth consistent with 2% inflation? Something must give energy deflation high productivity gains housing-rental slump -2% 0% 2% 4% 6% 8% 10% Aug Oct Dec-19 Feb Apr Jun Aug Oct Dec-20 Feb Hits: 1 |
Official_Revenue_Estimate_Methodology_2023_06.pdfbut used therein if tax was not paid at time of purchase. A hotel occupancy tax is levied upon room rentals of less than 30 days by the same person. Transfers General Fund tax revenues are net of (1) a transfer Hits: 1 |
Official_Revenue_Estimate_Methodology_2022.pdfbut used therein if tax was not paid at time of purchase. A hotel occupancy tax is levied upon room rentals of less than 30 days by the same person. Transfers General Fund tax revenues are net of (1) a transfer Hits: 1 |
Official_Revenue_Estimate_Methodology_2021.pdfbut used therein if tax was not paid at time of purchase. A hotel occupancy tax is levied upon room rentals of less than 30 days by the same person. Transfers General Fund tax revenues are net of (1) a transfer Hits: 1 |
Official-Revenue-Estimate-Methodology-2020-6.pdftherein if tax was not paid at time of purchase. A hotel occupancy tax is levied upon room rentals of less than 30 days by the same person. Transfers General Fund tax revenues are net of (1) a transfer of 0 Hits: 1 |
Official-Revenue-Estimate-Methodology-2019-06.pdftherein if tax was not paid at time of purchase. A hotel occupancy tax is levied upon room rentals of less than 30 days by the same person. Transfers General Fund tax revenues are net of (1) a transfer of 0 Hits: 1 |
MSC_March_31_2022.pdfPayments 11.0 21.0 0.2 32.2 New Child Tax Credit Awards -- 3.4 0.1 3.5 Rental and Homeowner Assistance -- 1.8 0.0 1.8 Paycheck Protection Program (PPP) 20.7 10.0 0.0 30 Hits: 1 |
MQRE_FY22_23_August.pdf4 million. Sales and Use Tax Person-to-Person Car Sharing (Act 53) The act provides consistency between traditional vehicle rentals and those rented via a peer-to-peer agree- ments by specifying that peer-to-peer car sharing is also Hits: 1 |
Monthly_Economic_Update_May_2022.pdfthe largest component of the CPI (35.4% for Philadelphia) is Shelter, which reflects rent imputed to homeowners and monthly rental payments. In February, the Philadelphia Shelter component increased by 0.3 ppts more than the U.S. average (5.0% Hits: 1 |
Monthly_Economic_Update_July_2023.pdfResidence (5.5%) The cost to rent a primary residence. Owner’s Equivalent Rent (OER) (30.6%) For homeowners, the rental income foregone if the home had been rented. By far, the single largest CPI-U component. Excludes maintenance and property Hits: 1 |
Monthly_Economic_Update_July_2021_Final.pdfone-third of the CPI-U and includes imputed rent to homeowners (0.8% increase, based on survey data) and rental expenses of primary residences (2.3%). The CPI-U that excludes the Shelter component provides a more accurate measure of Hits: 1 |
Monthly_Economic_Update_January_2022.pdfis known to lag trends in the broader economy due to the way data are collected and the fact that rental agreements are generally renewed only on an annual basis. This lag and the relative size of the Shelter component suggests Hits: 1 |
Monthly_Economic_Update_December_2020.pdf224 million in rent, an average of $4,663 per household. A report from the Mortgage Bankers Association finds that rental property owners lost approximately $9.2 billion in 2020 Q3 revenue from renter households that missed, delayed or made a Hits: 1 |
Monthly_Economic_Update_August_2023.pdfto last year and 0.9% over the prior month. Owner’s Equivalent Rent (OER) (30.6%) For homeowners, the rental income foregone if the home had been rented. By far, the single largest CPI-U component. Excludes maintenance and property Hits: 1 |
MER-2014-05.pdfTotal Private Goods Industries 5.3 2.9 3.9 4.5 5.3 6.4 Finance, insurance, real estate, rental, & leasing 6.4 5.4 4.7 3.7 3.3 3.5 Professional and business services 5.9 7 Hits: 1 |
June_Revenue_Estimate_2021.pdfand available through CY 2024. Additionally, projections include targeted funds for public transit ($1.4 billion) and affordable housing and rental assistance programs ($514 million). ▪ Other support was authorized by the federal government for CY 2020 and CY 2021. These funds Hits: 1 |
jackson ppt.pdfprices and holding back new construction. • Multifamily home construction will lead the recovery, reflecting a shift from owner- occupied to rental housing. A Much-Delayed Recovery in US Housing Markets 15 © 2012, IHS Inc. No portion of this presentation may be Hits: 1 |
IFO_Hearing_Materials_March_2023.pdf0.4 0.0 0.4 Higher Child/Dependent Care Credit -- 0.0 0.5 0.0 0.5 Emergency Rental Assistance -- 0.6 0.6 0.4 1.6 Paycheck Protection Program (PPP) 20.7 10.0 0.0 0 Hits: 1 |
IFO_Hearing_Materials_Feb_22_2022.pdfPayments 11.0 21.0 0.2 32.2 New Child Tax Credit Awards -- 3.4 0.1 3.5 Rental and Homeowner Assistance -- 1.8 0.0 1.8 Paycheck Protection Program (PPP) 20.7 10.0 0.0 30 Hits: 1 |
Five_Year_Outlook_2020_Presentation_Final.pdfBus Revenue -28% 2020 Q4 Sales Tax +6.9% 2020 Q3-Q4 Credit Card Debt -8.6% 2020 Q2-Q3 Rental Market Low Income HH S&P 500 Index +8.8% CY 2020 Lost Economic Growth Drives Larger Structural Deficit January Hits: 1 |
Economic_and_Revenue_Update_2020_10.pdfunemployment, lower wage growth and reduced non-withheld earnings (e.g., net profits, capital gains, dividends, interest and rental payments). Other Revenue Sources Other notable updates to the revenue estimates include: The updated FY 2020-21 estimate for cigarette tax Hits: 1 |
CNIT-Rate-Cut-2018-04.pdf359.7 254.2 9.8% Finance and Insurance 283.5 276.9 293.2 10.2% Real Estate and Rental 64.5 55.9 59.1 2.1% Professional, Scientific and Technical 150.0 166.8 151.3 5.6% Hits: 1 |
2022_Mid_Year_Update.pdf1.79 million, $3.3 billion FFY 2021 1.79 million, $5.2 billion Current extension to March 2022 Emergency Rental Assistance Sept to Nov 2021 $72 million/month Assume relief runs through Sept 2022 Sales and Use Tax Notes Non- Hits: 1 |