How Will AVI Specifically Affect Chestnut Hill?
A new map shines some light on that question.
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The majority of homeowners in Chestnut Hill would likely see their property taxes increase between $1,000 and $3,000 if Mayor Michael Nutter's Actual Value Initiative (AVI) is implemented, according to a map released by the Philadelphia Public Interest Information Network.
The map shows how AVI might specifically affect individual areas throughout Philadelphia if the tax rate is set at 1.8 percent of the home's value. That hasn't been settled yet but will be once City Council passes a budget. The body is required to do that by the end of June.
AVI would likely require homes to be assessed at their actual market value.
Here's a look at the Chestnut Hill numbers. The map only profiles certain properties and is intended to give a general sense of AVI's effects:
- No homes listed on the map would see their property taxes decrease.
- Three listed on the map would see their property taxes increase by between $0 and $1,000.
- 10 listed on the map would see their property taxes increase by between $1,000 and $3,000.
- Three listed on the map would see their property taxes increase by more than $3,000.
Karen Rile
10:29 am on Thursday, June 21, 2012
I'm a little confused by the comments at the end of the article.This interactive map seems to function for any property in the city, not just a few representative properties. Perhaps the maps has changed since the article was written?
In any case, it is a nifty tool, so thanks for posting it. I've played with the calculator a bit and the results are alarming. My own taxes might increase 87% if our house, which we purchased over 20 years ago, is reassessed to reflect the recent sale prices of upgraded houses with similar footprints in our neighborhood. For my family, this draconian increase will be a disaster. I suspect the same would be true for many of my neighbors. As for us selling our houses and fleeing the city-- who will want to buy in a rapidly-emptying neighborhood filled with drastically over-taxed properties?
Kaitlyn Foti
11:35 am on Thursday, June 21, 2012
Thanks for asking Karen. For the purposes of the article we used a filter by sale price feature, which selects random properties. Someone using the map for themselves can enter their address.
We'll keep updating as the AVI issue unfolds, but it seems like your not alone in your concerns as many properties in Chestnut Hill would see an increase.