Budget day: property taxes and LOVE Park renovation | gambling on PGW sale | Barnes Totem approved | Owls to the Big East

Good morning, Streeters. It’s going to be a real beauty – breezy and a high near 70 – so leave the heavy coat at home, and duck out for a walk later.

This morning, Mayor Nutter will deliver his budget address. And while no one expects major surprises, the Daily News editorial page has been exploring the land mines embedded in the city’s financial picture. Today’s land mine: The city’s transition from a broken, inequitable property tax system to one based on actual values. As the DN notes, “This is not a painless change. For some, it will spark a debate about the value we receive for the taxes we pay – and even the value of living in Philadelphia. That’s one big land mine.” Thanks to the move to actual-value reassessment, the city expects to collect $90 million more in revenue, reports the Daily News, but Nutter says it’s not a tax hike.

The renovation of LOVE Park will be included in the city’s budget, reports the Inquirer. When PlanPhilly checked in on the plans to renovate LOVE Park back in September, the project was on hold because funding was not yet in place. So skaters – get your last granite grinds in now.

How big of a gamble is privatizing PGW? City Paper explores the city’s interest in selling PGW and finds vast uncertainties ahead for ratepayers and the city.

The Art Commission approved the rooftop plantings on the new (taller) Family Court Building and a new sculpture by Ellsworth Kelly for the grounds of the new Barnes Foundation Museum, PlanPhilly’s JoAnn Greco reports.

The Temple Owls are heading to the Big East Conference, reports The Temple News. Starting this fall the Owls will play football in the Big East, moving from the Mid-American Conference by paying a $6 million exit fee. In 2013 the rest of Temple’s teams will leave the Atlantic 10 Conference to join the Big East.

The Buzz is Eyes on the Street’s morning news digest. Have a tip? Send it along.

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