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.

Picture 11

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.)

Continue Reading