Landlords might raise rent to cover property tax hikes

    The giant, bouncing ball of AVI – that’s Mayor Nutter’s Actual Value Initiative, an attempt to make the property assessments the city uses for tax purposes reflect the actual market value of property – just keeps bouncing unpredictably. Two weeks ago, AVI looked like it would get implemented this year, one way or another. Then last week, City Council moved to postpone implementation of the plan. Its chances of passage this year now appear slim.

    On this week’s, It’s Our Money podcast, we’re examining one of the many complicated facets of the AVI debate. The issue has been discussed mostly in the context of what the change could mean for homeowners, but landlords and renters have a stake in the property tax system, too. WHYY’s Emma Jacobs tells us that landlords are pretty worried about what might be coming – if not this year, then maybe next.

    Check out the It’s Our Money podcast, and find more at www.ourmoneyphilly.com.

    Do you have a rant, rave or question about property tax changes in your neighborhood? Let us know in the comments section below.

     

    It’s Our Money is a joint project of the Daily News and WHYY, funded by the William Penn Foundation. We shed light on where your tax dollars are going.

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