Sanchez bill seeks new school funding formula

Philadelphia Councilwoman Maria Quinones-Sanchez. (CLAUDIA VARGAS/Staff)

In another effort to pull the beleaguered School District of Philadelphia out of its fiscal slump, Councilwoman Maria Quinones-Sanchez introduced a bill today that funnels a greater percentage of property taxes from the city to the school district.

As it stands, about 45 percent of property tax revenues go to city coffers, while the remaining 55 percent are dedicated to the school district. Sanchez’s bill would tip the scales so that 40 percent goes to the city and 60 percent to the school district.

The councilwoman claims that the shift could mean at least $50 million more in school funding without affecting tax rates.