City of Philadelphia - File #: 040022

• File #: 040022
• Version: 0
• Type: Bill
• Status: ENACTED
• File created: 1/22/2004
• In control: Committee of the Whole
• Final action: 6/10/2004
• Title: Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by providing that no change by the Board of Revision of Taxes to the ratios it uses to calculate assessed value shall be effective unless Council by ordinance adjusts real estate tax rates so that such change is revenue neutral, or unless Council otherwise approves such change by ordinance; all under certain terms and conditions.
• Sponsors: Councilmember Nutter, Councilmember Goode
• Indexes: REAL ESTATE TAX
• Code sections: 19-1300 - Real Estate Taxes

Date	Ver.	Action By	Action	Result	Tally
6/10/2004	0	MAYOR	VETOED
6/10/2004	0	CITY COUNCIL	RECONSIDERED
6/10/2004	0	CITY COUNCIL	VETO OVERRIDDEN	Pass	17:0
5/31/2004	0	CITY COUNCIL	READ
5/31/2004	0	CITY COUNCIL	READ
5/31/2004	0	CITY COUNCIL	PASSED	Pass	13:4
5/25/2004	0	CITY COUNCIL	ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR
5/25/2004	0	CITY COUNCIL	SUSPEND THE RULES OF THE COUNCIL	Pass
5/25/2004	0	CITY COUNCIL	ORDERED PLACED ON NEXT WEEK`S SECOND READING CALENDAR
5/24/2004	0	Committee of the Whole	HEARING NOTICES SENT
5/24/2004	0	Committee of the Whole	HEARING HELD
5/24/2004	0	Committee of the Whole	REPORTED FAVORABLY, RULE SUSPENSION REQUESTED
5/18/2004	0	Committee of the Whole	HEARING HELD
5/18/2004	0	Committee of the Whole	RECESSED
5/17/2004	0	Committee of the Whole	HEARING HELD
5/17/2004	0	Committee of the Whole	RECESSED
5/12/2004	0	Committee of the Whole	HEARING HELD
5/12/2004	0	Committee of the Whole	RECESSED
5/10/2004	0	Committee of the Whole	HEARING NOTICES SENT
5/10/2004	0	Committee of the Whole	HEARING HELD
5/10/2004	0	Committee of the Whole	RECESSED
1/22/2004	0	CITY COUNCIL	Re-Referred
1/22/2004	0	CITY COUNCIL	Introduced	Pass

Title
Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by providing that no change by the Board of Revision of Taxes to the ratios it uses to calculate assessed value shall be effective unless Council by ordinance adjusts real estate tax rates so that such change is revenue neutral, or unless Council otherwise approves such change by ordinance; all under certain terms and conditions.
Body
WHEREAS, The Board of Revision of Taxes ("BRT") has announced its intention to assess properties at 100% of market value beginning with assessments for tax year 2006; and

WHEREAS, The BRT's intent is that Council will adjust real estate tax rates so that the change to 100% of market value will be revenue neutral; and

WHEREAS, It is Council's intent in enacting this ordinance to ensure that no change by the BRT to assessment ratios will be effective unless Council by ordinance adjusts real estate tax rates so that the change to the assessment ratios is revenue neutral, or unless Council otherwise by ordinance approves such change; now, therefore,

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.

* * *

§19-1308. Assessment Ratio Changes by the Board of Revision of Taxes.

(1) Definitions.

(a) Assessment Ratio. Either the ratio the BRT uses to determine the market value of a property from its actual market value (71% for tax year 2004), or the pre-determined ratio the BRT uses to determine the assessed value of a property from its market value (32% for tax year 2004).

(b) BRT. Board of Revision of Taxes.

(2) Whenever the BRT proposes to change an Assessment Ratio, it shall file notice of such proposal with the Clerk of Council, with copies to all members of Council. No such change to an Assessment Ratio shall be effective unless:

(a) Council by ordinance adjusts real esta...