City Council passed a budget last month, but the Nutter Administration’s financial woes are from over. This coming week the mayor must deliver a long-range spending plan to state officials.
Confusion reigns at Philadelphia City Hall as council and the Nutter Administration grapple over the already overdue budget as well as how to fix the property tax system.
The mayor’s budget hinges on state approval of a homestead exemption, and separately, gaining the ability to adjust the split of property taxes between the city and the school district.
Nutter’s finance chief Rob Dubow tells Councilman Bill Green property tax hikes will be fair because they’re based on actual value of the home.
The ruling could cost the city and the school district millions of dollars.
One day after the head of Philadelphia’s School Reform Commission admitted to financial mismanagement under the SRC’s previous leadership, City Council members voiced misgivings about raising an extra $90 million to help bail out the school district.
Mayor Nutter’s budget experts were in the hot seat as Philadelphia City Council opened hearings on Nutter’s plan to revamp the way property assessments are calculated in the city.
Philadelphia property owners, residential and commercial, brace yourself: Mayor Nutter is unveiling a new budget while laying out a plan that will mean higher property taxes for many.
Dr. Donald Schwarz says he has “not seen anything like this before.”
Councilwoman (and Penn State alumna) Blondell Reynolds-Brown has authored a bill in which any city employee convicted of sexual abuse of a minor would forfeit his or her city pension.
The City of Philadelphia’s finances are so bleak these days that when a very slight budget surplus appears, officials call a news conference to crow about it.
The proceeds of more than $40 million in stocks sold off last week by the city’s pension fund, when the global markets were in chaos, is now being reinvested.
The turmoil in financial markets could quickly filter down to the budgets of the Commonwealth of Pennsylvania and the City of Philadelphia, with officials at both levels facing difficult decisions.
The long-running confusion over the city’s system of assessing property values was again front and center as City Council began its review of the mayor’s budget. The question: what happens when the latest tax hike gets rolled back?
The budget that Mayor Nutter is expected to deliver is expected to be a relatively pain-free spending plan. However, bad news from Harrisburg or D.C. in the future could change that.