HARRISBURG, Oct. 19, 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 is now on the governor’s desk.
Williams’ legislation eliminates the state-established millage rate to give the city control to set its own rate. It also allows a one-time exception to allow City Council to lower the city-established portion of the of the school district tax rate to correspond to the anticipated significant increase in property tax assessments in 2013.
“An overhaul of the city’s property tax system is long overdue and will require tremendous effort. My legislation enables the mayor and City Council to take the necessary steps to prepare for a property tax reassessment and move tax collection forward in a more equitable way,” Williams said. “AVI is going to provide real relief to many taxpaying citizens and give homeowners a much more accurate picture of their property’s market value.”
His measure (Senate Bill 1303), which was approved by the Senate in early October, was inserted into House Bill 1857, which would also expand the use of voter approval of borrowing in county home rule charters.
“This is much more equitable solution than to do nothing and let taxes increase substantially,” Williams said.