Title
Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," and amending Chapter 19-1800 of The Philadelphia Code, entitled "School Tax Authorization," by reducing the rate of tax on real estate within the City, and by authorizing the Board of Education of the School District of Philadelphia to impose an increase in the rate of tax on real estate within the City.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-1300 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-1300. REAL ESTATE TAXES
§19-1301. Real Estate Taxes.
* * *
(7) A tax is hereby levied on each one hundred ($100) dollars of the assessed value of taxable real property returned by the Board of Revision of Taxes in the preceding year at the rate of three dollars seventy-four and one-half cents ($3.74½) for the year 1990 [and thereafter] through and including the year 2001.
(8) A tax is hereby levied on each one hundred ($100) dollars of the assessed value of taxable real property returned by the Board of Revision of Taxes in the preceding year at the rate of three dollars and fifty-six and one-half cents ($3.56½) for the year 2002 and thereafter.
* * *
SECTION 2. Chapter 19-1800 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-1800. SCHOOL TAX AUTHORIZATION
§19-1801. Authorization of Tax.
* * *
(33) The tax imposed by the Board of Education of the School District of Philadelphia shall be at the rate of [two dollars and eighty-four and four-tenths cents ($2.844)] three dollars and two and four-tenths cents ($3.024) on each one hundred dollars ($100) of assessed value of taxable real property as returned by the Board of Revision of Taxes as the assessment made in the year 2001 for the imposition of tax for the year 2002.
* * *
___________________________________
Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
End