HARRISBURG, Oct. 25, 2012 — State Sen. Anthony H. Williams’ measure that will help the City of Philadelphia move forward with the Nutter administration’s Actual Value Initiative (AVI) property tax reassessment plan was signed into law on Wednesday evening by the governor.

The new law includes language from a bill Williams authored that suspends the state-established millage rate to give the city control to set its own rate. It also allows a limited exception to City Council to lower or adjust the city-established portion of the of the school district tax rate for three years — the initial AVI year and two years after that. The actions will correspond with the anticipated significant increase in property tax assessments in 2013.

“This law represents a major step toward overhauling the city’s outdated and often inaccurate property tax system,” said Williams (D-Phila./Delaware). “When assessing the real need for this, and understanding the hurdles that had to be cleared here in Harrisburg, I made it a priority to deliver this.

“Enacted properly, AVI will give property owners a more accurate picture of their property’s market value and even provide them with much needed tax relief,” Williams added.

The new law also expands the use of voter approval of borrowing in county home rule charters.

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