The big money
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How many quarters are there in $4 million? Rather than Pittsburgh City Council debating over parking meter hours, council would be better served to campaign to have more state real estate law loopholes plugged.
Every homeowner in the state paid the deed transfer tax, but it can be avoided. By allowing corporations to avoid a 4 percent deed transfer tax, millions and millions of dollars are taken away from the city.
Recently, the "89-11" transaction loophole was corrected, but loopholes remain. Just one $99.2 million real estate transaction, which did not involve the "89-11" loophole ("EQT Site Acquired By N.C. Company," Dec. 5), would replace a whole lot of parking meter quarters.
First Published January 7, 2013 12:00 am