PHILADELPHIA (CBS) – Buried in Mayor Nutter’s new budget plan is $4 million dollars set aside for a long-planned overhaul of the city’s much-criticized property tax system.

It’s been a long and winding road for a new property assessment system assessment system known as Full Valuation. The Board of Revision of Taxes had spent several years and millions of dollars creating the system. But the Nutter Administration last year took over the BRT’s assessment duties.

And the mayor’s aides say the BRT’s work on Full Valuation is deficient and needs reworking. Budget Director Rebecca Rhynhart says they’re now setting aside 4 million dollars more for the task.

“The goal there is to get all properties in the city reassessed by the fall of 2012. We’re making a significant investment there to push to get that done, so that we’ll go to full valuation in the fiscal 2013.”

The money will be used to hire 80 new property assessors and to upgrade and retool the computerized assessment system that officials now believe yielded flawed results.

Reported By Mike Dunn, KYW Newsradio.

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