A screen capture of the CHCA's AVI email.

by Pete Mazzaccaro

The Chestnut Hill Community Association alerted its members of ongoing developments of the Actual Value Initiative, a new property tax assessment sstem under consideration by City Council this week.

The Local covered AVI last week here.

The alert went out in the form of an email today and urged residents to attend pubblic hearings in City Hall. The text reads as follows:

To the Residential and Business Property Owners of Chestnut Hill:

We are providing information regarding the upcoming vote by City Council on AVI -­‐ Average (stet)  Value Initiative, and related ordinances. This is the controversial property valuation plan that will affect property tax assessments throughout the City.

This Thursday, City Council will be voting on details of this plan, including total revenue to be generated, a millage rate that may run as high as 1.85, the Use & Occupancy Tax role in this assessment, and a temporary tax relief tool called the “Homestead Exemption.” The ultimate goal is to fund a projected deficit in the School District budget of $94.5 million.

The vote is scheduled for two City Council Public Hearings on Thursday, June 14, 2012. The first is at 10 a.m., the second at 12 noon. Members of the public are encouraged to attend and express their opinions. Such testimony will be entered into the public record.

City Council Public Hearing Room 400 Philadelphia City Hall Provided with this message are:

Draft of the Homestead Exemption Application

Primer on subject by Committee of Seventy