FAILED

This lapsed bill would have capped the tax on real property at 104% of the previous year's tax for properties with the same owner. The cap would have applied to school taxes, while excluding tax increases tied solely to new construction or improvements not previously included in assessments, beginning July 1, 2003.

Amending Chapter 19-1800 of The Philadelphia Code, entitled "School Tax Authorization," by adding a new Section 19-1801.1 providing for a cap on tax increases, under certain terms and conditions.