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Slots provide $783M to reduce property taxes

HARRISBURG (AP) More than $783 million in slot-machine gambling revenue will be available to finance property tax cuts for Pennsylvanians this year, the Wolf administration said Wednesday.

State Budget Secretary Randy Albright certified the total, most of which will finance tax reductions for homeowners in the homestead exclusion program. That's expected to translate into tax cuts of about $200 per household, the administration said.Final figures are expected in early May, when counties will report the number of homeowners who signed up for the program.Homeowners in 66 counties will see their reductions subtracted from the school property tax bills they receive this summer. Philadelphia's $86 million share will be used to reduce the city's wage tax.About $167 million of the total will help finance a separate program that provides rebates for older and disabled homeowners with incomes of up to $35,000 and renters who earn $15,000 or less.In the ongoing legislative debate over reducing school property taxes, both Democratic Gov. Tom Wolf and the House Republican majority are proposing significant expansions of the homestead exclusion program, although many disagreements remain unresolved.