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For Immediate Release:    
February 17, 2007

Contact: Marty O’Rourke    
               215.985.5901

(PHILADELPHIA)  A ballot question initiative on reassessment put forth by both City Controller Alan Butkovitz and City Councilwoman Jannie Blackwell was passed out of committee today by a unanimous vote of City Council’s Law and Government Committee.

After testifying in support of Councilwoman Blackwell’s bill to place the real estate tax reassessment question on the May 16, 2007 ballot, committee members voted to pass the measure out of committee and have the legislation scheduled for a vote by the entire City Council on Thursday, February 15, 2007.

The proposed bill would put the following question to the voters on the May 15th primary ballot: Do you hereby urge the stopping of real estate increases on the homes and real estate of Philadelphia by the Philadelphia Board of Revision of Taxes’ use of a new method for figuring taxes called Full Valuation.

Butkovitz will be urging voters to oppose the reassessment by voting “yes” to stop the planned reassessment.

During his testimony, Butkovitz said, “nothing could do more to stop all the energy and revitalization taking place in our great city ---than an ill-conceived city-wide reassessment by the Board of Revision and Taxes.”

Butkovitz added, “a citywide full-value reassessment would cause real estate taxes to sky rocket in most of the neighborhoods in Philadelphia.  It would send shockwaves and cause tremendous financial hardship for many homeowners ---especially the elderly ---and many small business owners as well.  In fact for some of the elderly, it would force them to sell their homes.

Real Estate growth in Philadelphia is at an all time high---clearly evident by the tremendous growth in the Real Estate Transfer Tax.  In 2006, this tax generated $235 million dollars ---an increase of over 300 % from 1997 and over a 500% increase from 1991.

“By going to a full value reassessment and subsequently increased real estate taxes,  Philadelphia would undo the positive results that have been transforming our city and increasing the transfer tax revenue.  With a proposed increase in the state sales tax to 8%
(for Philadelphia), with high auto insurance rates, it is unfair to put in a system that will dramatically increase real estate taxes,” Butkovitz said.

Butkovitz concluded by saying, “I urge all City Council members to support having this question placed on the May 16th Primary ballot and join with me in giving the citizens of Philadelphia a voice on this issue.”