How Will AVI Specifically Affect Mt. Airy?
A new map shines some light on that question.
The majority of homeowners in Mt. Airy 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 Mt. Airy numbers. The map only profiles certain properties and is intended to give a general sense of AVI's effects:
- Four homes listed on the map would see their property taxes decrease by more than $1,000.
- 19 listed on the map would see their property taxes decrease by between $0 and $1,000.
- 11 listed on the map would see their property taxes increase by between $0 and $1,000.
- 29 listed on the map would see their property taxes increase by between $1,000 and $3,000.
- Eight listed on the map would see their property taxes increase by more than $3,000.
Liz Hersh
8:19 am on Wednesday, June 20, 2012
Our schools desperately need the funding. Without good public education, our properties are worth a lot less.
Robert Scavilla
8:45 am on Wednesday, June 20, 2012
I absolutely agree with your comment about good public education. I question whether the city has the ability to spend the additional revenue wisely - in fact, I doubt it.
Virginia Bryant
10:17 am on Wednesday, June 20, 2012
The 1.8% millage rate, if passed, will be disastrous for NW Philadelphia. City residents already pay the wage tax, NPT, BPT, personal property tax, and a real estate transfer tax that's double that of the surrounding suburbs. The only slight advantage we've had is that real estate taxes are somewhat lower than outside the city. If this huge real estate tax hike is passed, property values will fall dramatically.