Localmedium impact · 5/10substantive020601

Philadelphia Property Owners Face Tax Hike Cap Under New Proposal Taking Effect This Month

Official:Amending Chapter 19-1800 of The Philadelphia Code, entitled "School Tax Authorization," by adding a new Section 19-1801.1 providing for a cap on tax increases, under certain terms and conditions.

Sponsor: Councilmember O'Neill

Introduced: October 3, 2002

Voted: March 13, 2003

: Committee on Finance

housing school funding taxation

Plain-Language Summary

This bill proposes a cap on tax increases for Philadelphia property owners, limiting tax hikes to 104% of the prior year's tax levy.

What This Bill Does

AI-written. Every figure is checked against the bill text.

Limits the tax levy on any real property to no more than 104% of the prior year's tax levy.
Applies this cap to taxes levied by the Board of Education, regardless of whether authorized by City Council ordinance.
Specifies that the cap only applies to properties owned by the same person who owned the property at the time of the prior year's tax levy.
The cap on tax increases takes effect upon enactment of authorizing legislation, but the timing of that legislation is not specified in the bill.