PASSED

The enacted ordinance amended Philadelphia’s real estate tax provision to set the City tax rate at $3.474 for each $100 of assessed value of taxable real property, beginning in 2003 and thereafter. The change was effective only if the School District of Philadelphia imposed a separate real estate tax at a rate of $3.115 per $100 by June 30, 2002, affecting owners of taxable real property in the city.

Amending Section 19-1301 of The Philadelphia Code, entitled "Real Estate Taxes," to decrease the rate of tax on real estate within the City of Philadelphia, under certain terms and conditions.