Business owners in Chestnut Hill are starting to feel the anxiety that has been building across the city in anticipation of Mayor Nutter’s Actual Value Initiative. Individual tax assessments will be released in the coming weeks citywide.
Tax rates in Chestnut Hill cover both extreme ends of the scale. Taxes are expected to either decrease more than $1,000 or increase more than $3,000.
Joe Borrelli is the owner of the Chestnut Hill Gallery and Frame Shoppe. He rents his business space at 8117 Germantown Ave. and is concerned about how the new property taxes will affect his rent.
“Times are really hard already. I don’t know why they are doing this now,” said Borrelli.
It’s not just business owners who rent space that are concerned.
Dan Weiss is the owner of the Chestnut Hill Cheese Shop. He also owns the building that his business is located in at 8509 Germantown Ave.
“Business has been hard hit enough, it’s not robust by any means. An increase in property tax will only make it that much harder,” said Weiss.
If you own a small business and want to know what to expect in your tax assessment, visit Axis Philly’s AVI Impact Map.