The Mayor’s office released a new web tool yesterday that will allow individual home owners to enter their address to learn how much their annual property tax bill will increase. The site can be found at: http://schoolfunding.phila.gov .
“We have an obligation to provide Philadelphia’s children with a high-quality education that prepares them for college and career,”Mayor Michael Nutter said in a release announcing the site. “Our kids deserve a fair chance at a successful future, but they won’t get it with insufficient school funding. That’s why I proposed an increased investment in education of $105 million in annual, recurring funding.”
Nutter’s proposal would hike the current real estate tax rate of 1.34 to 1.461 in the 2016 fiscal year. The Local took a look at four properties that are currently on the market and what the proposed tax increase would look like for each home. The following numbers were derived from Trulia. The increase values were taken from the city’s website.
The proposed tax increase looks to be essentially a flat increase of 9.3 percent regardless of home value, with only the most expensive home bucking the trend.
In addition to the info the tool provides to homeowners, it also shows just how the additional tax funds will be spent locally. In Chestnut Hill searches, the site shows funding increases for J.S. Jenks Academy for Arts and Sciences and Roxborough High School. Jenks, the site claims, will receive five additional support staffers and $134,000 for equipment and supplies.
We’d really like to hear from Hillers what they think of the proposed tax increase. Is it a necessary funding measure for public schools or a cue to put your home on the market? Let us know in comments or, if you’d rather, send a direct letter to the editor here.