To ensure King of Prussia has a regionally competitive tax structure that promotes and grows business, the King of Prussia District regularly examines existing tax codes of Upper Merion Township (UMT). Further, it considers that data relative to performance results from nine of the region’s largest employment centers that compete for companies and employees.
King of Prussia District and its consultants then use those findings to develop meaningful recommendations for the township to consider for potential tax reforms.
Those latest recommendations have been gathered into the 2022 Comparative Location Analysis.
Key findings from the report show:
- UMT maintained its previous position with the third lowest total tax burden on business. UMT, as a business taxing location, remains “comfortably less burdensome than the high-tax jurisdictions in the region, and trailing only low-tax jurisdictions that offer far fewer amenities.”
- Owing to the township’s sizable commercial sector, 64 percent of UMT’s real estate tax revenue comes from nonresidential land use. This trend keeps the tax burden on residents one of the lowest in the region.
- UMT’s relative tax burden advantage holds across numerous industry sectors of regional importance, including pharmaceutical and medical manufacturing, financial services, insurance, law, life sciences, and warehouse/logistics.
- With the third highest concentration of employees in the region, an abundance of desired amenities, and a significant number of new housing options, UMT is well positioned as a location of choice for employers and employees.
The entire 2022 Comparative Location Analysis can be viewed from the King of Prussia District website.