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Some in gentrified Philadelphia neighborhoods could get tax relief

published Wed, May 30 2012 19:37 GMT
Big property tax changes are likely on the way, but if you’ve been living for years in a neighborhood that’s now booming, two City Councilmen want to help you out.Councilmen Jim Kenney and Mark Squilla are putting the finishing touches on legislation they expect to introduce next week that seeks to provide property tax relief to longtime residents of gentrifying areas -- folks who could take a beating under Mayor Nutter’s plan to shift to a property tax system based on market values, known as the Actual Value Initiative (AVI). "The concern that Mark Squilla and I have are the long term residents who are living in areas where many people took advantage of the 10-year tax abatement and in ...

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