Last week’s special community meeting on AVI was extremely well-attended and included a lot of valuable information, and powerful commentary by neighbors.
A full set of minutes for the meeting is up on the NLNA web site at nlna.org.
Here is a summary of some key points and info links:
- City Office of Property Assessment (property search and homestead exemption info
- Board of Revision of Taxes (instructions for appeals)
- AVI Calculator (property search and tax bill calculator)
- Axis Philly (independent AVI info, maps & more)
- Taxpayer Fairness Initiative (City Councilmembers’ site on deliquent tax collection)
Unfortunately, as a policy tool the Homestead Exemption won’t help many people in our community. To pay for the revenue lost from the Exemption, the City has to raise the overall property tax rate. Owners of properties assessed at about $230,000 or more would actually be better off if there were no Homestead Exemption, and the tax rate could be lower. But since it looks like the City may implement the Exemption, you should file for it.
(6) Gentrification Protection Is the Best Answer for Many. This limits how much the tax bill can increase for homeowners who’ve lived in their houses for 10 years or more. The current proposals would tax protected homeowners on a multiple of their current assessment. Example: Your old assessment was $50,000, while your new assessment is $350,000. Without gentrification protection, this would result in a tax-bill increase of 200% (a tripling of your bill). With gentrification protection set at 3X, you would be taxed only on $150,000 of assessed value – that is, three times (3X) your old $50,000 assessment. This would translate into a tax-bill increase of about 25%, instead of 200%.
Watch upcoming emails for more information, and for meetings and other opportunities for you to take action on this issue…