With the reassessment of property values due to the Actual Value Initiative, some lifelong residents are seeing their property taxes go up. Several assessments have tripled the property value, and some residents are worried they may have to leave their homes. The Actual Value Initiative (AVI) is a program which is supposed to accurately assess […]
With the Actual Value Initiative (AVI) raising property taxes throughout the city, many Philadelphia homeowners are wondering exactly why and how this is happening. The main goal of AVI was supposed to be a reassessment of all the properties in the city at their current market value. The Actual Value Initiative reflects the value at […]
One possibility that City Council is considering is the gradual application of the property tax reassessments throughout the course of three years. A bill proposed by Councilman Mark Squilla of the 1st District would do just that by taking the taxes collected the previous year and adding a percentage of the increases – 25 percent […]
The primary election for the city’s chief financial auditor is May 21. There are two candidates on the forefront of AVI. Incumbent Alan Butkowtiz said his office believes that there are more errors with property assessments under AVI than there were before. Candidate Brett Mandel has a history with AVI. He was a Plaintiff in […]
Residents of University City discuss their projected tax increases and how it will affect their political positions.
Many people are concerned about the re-evaluation of all 579,000 properties in Philadelphia, including those that are tax exempt, with some questioning whether the benefits of nonprofit tax exemptions and residential tax abatements outweigh the negative impact on the city. “The gentrification of the area — you owe that to Kenny Gamble [founder of Universal […]
When Charles Burke, a junior architecture major at Penn University, first heard about the Actual Value Initiative – the reassessment of every property in the city of Philadelphia done with the intention of rooting the base amount property taxes are paid on directly to the market value of a property – he said he thought […]