City Council President Darrell Clarke is today introducing a set of bills that would provide relief for some homeowners who could face big increases under the mayor's proposed property tax plan.
Among the proposals is a plan to provide property tax exemptions to longtime homeowners who live in areas where property values have increased due to development.
Mayor Nutter has proposed moving the city to a property tax system based on market values, known as the Actual Value Initiative. Under his plan, the city would collect an additional $94 million in revenue with the shift to AVI, which would go to the financially strapped school district. Critics have called the mayor's revenue goal a "back-door tax increase," while Nutter says he's simply capturing the rise in property values.
Council members have raised concerns about how AVI would impact homeowners – particularly longtime residents of neighborhoods where property values have soared. Many members have also said they want more information on how the schools would spend the money.