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File #: 170467    Version: 0 Name:
Type: Bill Status: IN COUNCIL - FIRST READING
File created: 5/11/2017 In control: Committee on Legislative Oversight
On agenda: Final action:
Title: Amending Title 2 of The Philadelphia Code, entitled "City-County Consolidation," by amending the Chief Assessment Officer's authorization to set standards for the valuation of properties for taxation purposes; all under certain terms and conditions.
Sponsors: Councilmember Quiñones Sánchez
Indexes: PROPERTY ASSESSMENT
Code sections: Title 2 - CITY-COUNTY CONSOLIDATION
Attachments: 1. Bill No. 17046700.pdf

Title

Amending Title 2 of The Philadelphia Code, entitled “City-County Consolidation,” by amending the Chief Assessment Officer’s authorization to set standards for the valuation of properties for taxation purposes; all under certain terms and conditions.

 

Body

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

 

SECTION 1.  Chapter 2 of The Philadelphia Code is hereby amended to read as follows:

 

TITLE 2.  CITY-COUNTY CONSOLIDATION.

 

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CHAPTER 2-300.  PROPERTY ASSESSMENT.

 

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§ 2-305. Office of Property Assessment; Chief Assessment Officer; Powers and Duties.

 

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   (2)   Except as Council may ordain from time to time, the Chief Assessment Officer shall:

 

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      (d)   Promulgate and make available on the City's official website Assessment Standards and Practices Regulations that with respect to assessments made in calendar year 2011 and thereafter:

 

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         (ii)   Set standards for property assessments that shall include, at a minimum, an acceptable limit on the deviation of the Common Level Ratio from the Predetermined Ratio, an acceptable limit on the Coefficient of Dispersion, [and] an acceptable range for the Price-Related Differential, and an adjustment based upon the market value of any exemption or abatement under §19-1303(2) or §19-303(4). The measurements against the standards shall be calculated following nationally recognized practices. 

 

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SECTION 2.  This Ordinance shall take effect immediately.

 

 

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Explanation:

[Brackets] indicate matter deleted.

Italics indicates new matter added.

 

End