Saturday, April 18, 2015

A look at how AVI will impact neighborhoods

In this week’s podcast, we helped you calculate what your new property tax bill could be under Mayor Nutter’s Actual Value Initiative (AVI). He wants to remake Philadelphia's broken property-tax system by reassessing all properties in the city.

A look at how AVI will impact neighborhoods

In this week’s podcast, we helped you calculate what your new property tax bill could be under Mayor Nutter’s Actual Value Initiative (AVI). He wants to remake Philadelphia's broken property-tax system by reassessing all properties in the city.

But if you’re as nosy as us, you’re also curious about what people throughout Philadelphia will be paying.

The Philadelphia Public Interest Information Network has put together a map that shows how different neighborhoods could be affected under AVI. It uses a 1.8 percent rate. (If you’re wondering why everyone is talking about a 1.8 rate these days, it’s because a Council consultant has estimated a total value of about $80 billion, and finance director Rob Dubow agreed last week that’s a “reasonable” number for analysis. He says that would mean the tax rate would likely be between 1.6 and 1.8 percent.)

It’s also worth noting that the map does not include a $30,000 homestead exemption, which Council gave preliminary approval to last week.

Neil Budde, CEO of the Philadelphia Public Interest Information Network, says more bells and whistles will be added soon, like additional data points.

(Full disclosure: “It’s Our Money” was consulted for input on the map.)

About this blog
Every year, city government spends slightly more than $4 billion. Where does all that money come from? More importantly, where does it go? Are we getting the most bang for our tax buck? “It's Our Money” is a joint project between Philadelphia Daily News and WHYY, funded by the William Penn Foundation, designed to answer these questions.

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