Title
Amending Chapter 19-1800 of The Philadelphia Code, entitled "School Tax Authorization," by specifying a rate for future tax years that is dependent on total taxable assessed values certified by the Board of Revision of Taxes, and by making technical amendments, under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-1800 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-1800. SCHOOL TAX AUTHORIZATION.
* * *
(2) For each of the following years, the tax imposed by the Board of Education of the School District of Philadelphia shall be at the following respective rates on each one hundred dollars ($100) of assessed value of taxable real property as returned by the Board of Revisions of Taxes as the assessment made in the year immediately preceding the stated year:
Year of Tax
Tax Rate
1964 to 1965
$0.12
1966 to 1973
$0.425
1974
$0.825
1975 to 1976
$1.125
1977 to 1980
$1.225
1981 to 1983
$1.60
1984
$1.90
1985 to 1988
$2.295
1989 to 1990
$2.445
1991 to 2002
$2.844
2003 [and thereafter] through ----
$3.115
---- and thereafter
The rate provided under ยง19-1801(3)
(3) Tax Rates for Tax Year ---- and thereafter.
(a) Definitions.
(i) Applicable Fiscal Year. The Fiscal Year that begins July 1 prior to the beginning of the tax year.
(ii) Collection Factor. Nine-tenths (.9).
(iii) City-wide Taxable Assessed Value. The total taxable assessed value of all property in the City as certified by the Board of Revision of Taxes in the year immediately preceding the tax year.
(iv) Target Tax Revenues. Current real property tax receipts budgeted for the Applicable Fiscal Year, as set forth in the Mayor's Budget in Brief as proposed to Council, unless otherwise provided by Council in an ordinance passed no later than the date Council passes the operating budget ordinance for the Applicable Fiscal Year.
(v) Target Tax Billings. Target Tax R...
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