Pennsylvania's current school tax system will change as a result of the passage of Act 1. The goal of Act 1 is to decrease property taxes by generating revenue through income taxes. Every school district in Pennsylvania has formed a tax commission which will make a recommendation as to whether that district should adopt a earned income tax or a personal income tax.

Mortgages are an essential part of almost all residential transactions. As competition grows, innovative mortgage opportunities rise. In addition to traditional fixed rate mortgages the market is offering adjustable rate, interest only and negative amortization options to name a few. The consumer needs education to make an informed decision about which mortgage type is best for them. While many plans look appealing at first glance, further research may reveal aspects which are not appealing to all consumers. Both buyers and sellers should be familiar with the options available to enable them to negotiate effectively.

The Association will also be conducting its Annual Meeting at the Springfield Country Club on October 25. This year's meeting will feature national speaker Terry Watson and his program "Top 10 Technology Mistakes that 99% of Agents Make". Terry is a dynamic speaker who has received raves from attendees at previous NAR conferences and events. This event will also provide 3.5 hours of continuing education credit and a great opportunity to network with members from throughout the membership area.