THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Chapter 19-1300 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-1300. REAL ESTATE TAXES.
§ 19-1301. Real Estate Taxes.
For each of the following years, a tax is hereby levied at the following respective rates on each one hundred (100) dollars of the assessed value of taxable real property returned by the Board of Revision of Taxes in the year immediately preceding the stated year:
Year of Tax
Tax Rate
* * *
* * *
2008 [and each year thereafter]
through 2009
$3.305
2010
$4.905
2011
$4.505
2012 and each year thereafter
$3.305
* * *
SECTION 2. Chapter 19-1300 of The Philadelphia Code is hereby amended to read as follows:
CHAPTER 19-1300. REAL ESTATE TAXES.
§ 19-1301. Real Estate Taxes.
For each of the following years, a tax is hereby levied at the following respective rates on each one hundred (100) dollars of the assessed value of taxable real property returned by the Board of Revision of Taxes in the year immediately preceding the stated year:
Year of Tax
Tax Rate
* * *
* * *
2008 through 2009
$3.305
2010
[$4.905]
$5.405
2011
[$4.505]
$5.005
2012 and each year thereafter
[$3.305]
$3.805
* * *
SECTION 3. Effective dates.
(1) Section 1 of this Ordinance shall be effective immediately.
(2) Section 2 of this Ordinance shall be effective upon certification by the City Solicitor to the Chief Clerk of Council and to the Revenue Commissioner, no later than November 16, 2009, that either or both of the following State authorizations were not enacted by November 13, 2009:
(a) State legislation authorizing the City to increase its sale and use tax from one percent (1%) to two percent (2%).
(b) State legislation authorizing the City to amortize its unfunded pension liability over a forty-year period.
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Explanation:
[Brackets] indicate matter deleted.
Italics
indicate new matter added.
End