PASSED

The enacted measure authorizes the Philadelphia Department of Revenue to defer all or part of a real estate tax increase greater than 15% for eligible property owners, based on household income, reasonable expenses, and available liquid assets. The deferred amount, including 6% annual interest, is generally due when the property is sold, although the owner may pay it earlier; the taxes may be owed to the City or the Philadelphia School District.

Amending Title 19 of The Philadelphia Code, entitled "Finance, Taxes and Collections," by amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by providing for certain deferrals of payment of a certain portion of Real Estate Taxes due the City of Philadelphia or the Philadelphia School District, all under certain terms and conditions.