Official:Amending Section 2-305 of The Philadelphia Code, entitled "Office of Property Assessment; Chief Assessment Officers; Powers and Duties," by further providing with respect to the manner in which assessments are determined for certain properties that are subject to rent restrictions, affordability requirements and other related restrictions, and for properties with respect to which federal or state income tax credits have been obtained; and by providing for additional reporting requirements with respect to such properties; all under certain terms and conditions.
Sponsor: Council President Clarke
Introduced: May 25, 2017
Signed: June 15, 2017
: Committee on Law and Government
Status: Signed into Law, step 4 of 4
This bill amends how property assessments are determined for certain properties in Philadelphia. It requires the Office of Property Assessment to consider rent restrictions and affordability requirements when valuing these properties.
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