FATTAH: Real Estate Tax
a. Yes. In my fiscal policy I stated my commitment to making the re-assessment revenue-neutral for the city.
b. I have said that this re-assessment should not unduly hurt our residents, to this end I have pledged to support efforts to provide a homestead exemption to Philadelphia homeowners and a phase-in of the reassessment to ease the impact on homeowners. I would also consider a buffering program or deferments as ways to mitigate the impact of the re-assessment on Philadelphia homeowners.
c. I have said that this re-assessment should not unduly hurt our residents, to this end I have pledged to support efforts to provide a homestead exemption to Philadelphia homeowners and a phase-in of the reassessment to ease the impact on homeowners. I would also consider a buffering program or deferments as ways to mitigate the impact of the re-assessment on Philadelphia homeowners.
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1 comment:
Both Nutter and Fattah want a homestead exemption with the idea of helping low-income homeowners. However, the problem is that real estate prices are not as strongly correlated with income as people would think. How much would a homestead exemption cost? Is a homestead exemption legal under the state constitution which restricts at least income taxes to be proportional?
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