HARRISBURG, Pa. ? Gov. Ed Rendell's budget chief says Pennsylvania is on schedule to cut homeowners' property taxes next year with revenue from slot-machine gambling.
Budget secretary Michael Masch says a special state property-tax relief fund had a $506 million balance as of Friday.
Masch is required to certify in April whether the fund has reached the $570 million threshold required for the state to distribute the money for tax cuts in the 2008-09 fiscal year.
The money also will be used to cut taxes for people who pay Philadelphia's wage tax.
Masch discussed the property-tax relief fund during a midyear briefing on the current state budget.