Monday, July 30, 2012
The Actual Value Initiative was delayed, but could greatly change the amount of real estate taxes paid by Philadelphians.
City Controller Alan Butkovich stopped by the Chestnut Hill Community Association Board of Directors meeting Thursday night to discuss the Actual Value Initiative with residents. Butkovich explained the details of AVI to the audience, breaking down the different possibilities of how the initiative could impact homeowners. To go along with the discussion, Butkovich passed out an outline that shows how Philadelphia real estate taxes compare to those of nearby suburbs, and how they would compare under the several rates that have been proposed along with AVI. The outline showed that under a 1 percent or 1.2 percent tax rate for AVI, Philadelphia real estate taxes would remain lower than most suburbs. But with a 1.8 percent tax rate, …
Current taxes in Philadelphia, compared to some local suburbs and how that could change with the Actual Value Initiative.
-13 % In the above chart, with number provided by the Office of the City Controller, residents can see how Philadelphia real estate taxes compare with a select group of suburbs. The percentages in the chart reflect how much your taxes would increase or decrease if you moved to these suburbs from Philadelphia. The lower proposed tax rates under the Actual Value Initiative would keep Philadelphia rates competitive. Would the 1.8 percent rate cause residents to start leaving the city? Tell us in comments.
Friday, June 29, 2012
The Chestnut Hill Community Association discussed plans to get community reaction on the city’s Actual Value Initiative.
Instead of an officer report, Chestnut Hill Community Association President Brien Tilley used time during Thursday’s Board of Directors meeting to discuss how the association could get an early start on planning for the reemergence of the Actual Value Initiative next year. The initiative would likely see property taxes raised to about 1.8 percent of the home’s actual value. While Philadelphia City Council has deferred the contentious matter for a year, Tilley said the CHCA should not wait 11 months to start discussing the matter again. “We’re a board; we represent the community. We have a year to hear from our community, reach out to our community and be heard at the city level,” Tilley said. He asked for board members to give feedback on …
Thursday, June 21, 2012
A new map shines some light on that question.
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 …
Friday, June 8, 2012
It's working toward implementing Mayor Michael Nutter's Actual Value Initiative as well.
City Council gave its initial approval to a plan proposed by Mayor Michael Nutter that would implement a property tax system based on the true value of city properties and laid the groundwork for giving an additional $85 million to the school district during a hearing Thursday. Nutter has been working to encourage City Council to adopt his proposed Actual Value Initiative, which would assess property taxes based on how much city properties are actually worth. Council gave preliminary approval to that and to a plan to give the School District of Philadelphia an additional $85 million, according to the Philadelphia Inquirer. This is all part of Council's work to adopt a budget before the end of the month. How do you think this news will …