PICA questions Nutter’s property-tax projections

The chairman of the city's fiscal watchdog today questioned the property-tax projections in Mayor Nutter's five-year financial plan, which assumes that tax revenues are projected to remain the same after a temporary 10 percent increase was supposed to sunset.

"The revenue estimates in the proposed plan are not based on currently proposed rates as set forth in the Real Estate tax rate bill approved by City Council last year," Sam Katz, chairman of the Pennsylvania Intergovernmental Cooperation Authority, wrote in a letter to Nutter and City Council.

Katz asked for more details on the city's property-tax revenue assumptions after an expected conversion next year to market-rate valuations.

City Finance Director Rob Dubow said that he would work to provide PICA with what they needed, although he said that it was tricky because the valuations aren't finished yet.

Dubow said that the administration is not trying to hide a tax increase in the five-year plan, but is expecting that having accurate assessments for the first time in years will bring in more revenue.