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City Council Proposes New Tax Rate Formula Linked to Property Values Starting Next Year

Official:Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by specifying a rate for tax years 2007 and thereafter that is dependent on total taxable assessed values certified by the Board of Revision of Taxes, and by making technical amendments, under certain terms and conditions.

Sponsor: Councilmember DiCicco

Introduced: November 10, 2005

: Committee of the Whole

finance taxation

No one voted on this bill

This bill was introduced in the 2004–2007 Council term and when that term ran out. The public record shows no committee vote and no floor vote at any stage, so no member of Council ever went on record for or against it.

That is not unusual here. Of the 8,465 bills introduced between 2000 and 2025, 1,624 lapsed without a single recorded vote. Ninety percent of bills that became law carry a roll call. Three percent of lapsed bills do. How this works.

Plain-Language Summary

This bill adjusts how Philadelphia sets its real estate tax rates for years after 2007, tying them to the city's overall taxable property values and current budgeted tax revenues.

What This Bill Does

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

For tax years 2007 and after, the real estate tax rate will be determined by the total taxable assessed values certified by the Board of Revision of Taxes, rather than a fixed rate as in previous years.
The tax rate for tax year 2007 and thereafter will be calculated using a formula that takes into account the city-wide taxable assessed value and the target tax revenues for the applicable fiscal year.
The bill repeals the fixed tax rates that applied from 1974 to 2006, replacing them with a new rate calculation for tax years 2007 and after.
The bill makes technical amendments to the code section, updating language and formatting to reflect the new rate calculation.