AVI Update: City Council Gives Preliminary Approval
AVI Update: City Council Gives Preliminary Approval
AVI Update: City Council Gives Preliminary Approval
Just got an AVI email update from GPAR:
Good Afternoon Everyone,
City Council has given preliminary approval last night to legislation that would allow the city to collect $85 million more for schools by moving to a new property tax system and by raising the use and occupancy tax on businesses.
By an 11-6 vote, Council gave preliminary approval to Mayor Nutter’s property tax reform effort, the Actual Value Initiative (AVI), with Councilman Squilla, Councilwoman Jannie L. Blackwell, Councilman Bobby Henon, Councilman Kenyatta Johnson, Councilman Dennis O’ Brien and Councilman Brian O’Neill voting against it. The AVI bill would raise $40 million extra for the schools, but the money would be doled out in accountability grants meaning the district would have to meet conditions set by council. The use and occupancy bill would raise $45 million for the schools. Council also amended the AVI bill to set a homestead exemption of $30,000 which means homeowners could deduct that amount from the value of their property before applying the tax rate.
Council also gave preliminary approval to a quite different competing bill sponsored by Councilman Squilla http://legislation.phila.gov/attachments/12853.pdf, that would delay implementation of AVI for another year. Councilman Squilla’s bill passed with only four “no”votes, from Councilman W. Wilson Goode Jr., Councilwoman Blondell Reynolds Brown, Councilwoman Marian B. Tasco, and Councilwoman Maria Quinones Sanchez. The Legislative/Government Affairs committee at GPAR has written a position paper for Bill # 120230, we believe this legislation makes the most sense.
Council also gave a first reading last night to a bill that would cap market value increases for longtime homeowners in gentrified neighborhoods that have seen huge jumps in housing prices.
The milage rate, however, also depends on the total value of all property in the city. That number is still UNKNOWN, as a citywide reassessment is ongoing.
All three measures were voted out of committee and given a first reading, moving each closer to final votes, possibly next week. The debate continues.
I will keep everyone updated regarding these issues.
If you have any questions or need further information please contact me.
Thank you
Maureen Josaphouitch-Smith
Director of Government & Public Affairs
Greater Philadelphia Association of REALTORS®
1341 N. Delaware Ave, Suite 200
Philadelphia, PA 19125
I’ll keep you updated as information becomes available.
Click For a 100% FREE search of all Philadelphia Real Estate
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
CenterCityTeam.com: Philadelphia Real Estate
