WINNERS AND losers" - it's a phrase heard often on the floor of City Council, especially when it comes to taxes. The phrase peppered the debate last summer over the city's move to the Actual Value Initiative as Council grappled with questions over who stood to gain most or be hurt by the citywide reassessment.
The phrase has come around again as Council works to put the finishing touches on AVI, including the so-called homestead exemption, which forgives taxes up to $30,000 for resident homeowners. But Council can still raise that rate, lower it or throw out the exemption altogether. There will, of course, be winners and losers - and the point at which they separate, the "tipping point," depends on Council's decisions.