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Article: Philadelphia City Council Approves Amendments on Property-Tax Deferral.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 4, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Leonard N. Fleming, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Oct. 4--City Council yesterday approved two amendments to a bill that would defer rising tax bills for longtime, low-income homeowners in areas targeted for future redevelopment.
One amendment to the bill, which was originally introduced in June by Councilman Darrell L. Clarke, would defer a portion of property-tax increases until the homeowner sells the home if the amount of the increase is 10 percent or more. The original amount had been set at 5 percent.
The other amendment would broaden the definition of a longtime, low-income owner who would qualify ...