Last month, Philadelphia City Council voted to delay overhauling the property-tax system for a year. Many homeowners applauded the decision.
But some property owners, who are overpaying in property taxes, could have gotten a lower tax bill if Council made the switch. Because the city’s current assessments are inaccurate, some homeowners and businesses are currently overpaying in property taxes while others are underpaying. Mayor Nutter’s Actual Value Initiative sought to fix the city’s broken assessments.
Who are the people being ill-served by the status quo? And did they even know they could have benefited from reform? NewsWorks Tonight host Dave Heller talks with Holly Otterbein, staff writer for It’s Our Money, to find out.