Note to Gentrifiers, Rich People, and Pretty Much Everyone: Your Taxes Are Going Up Under AVI

According to City Controller Alan Butkovitz, 343,191 properties will experience tax increases under the city’s proposed Actual Value Initiative (AVI) overhaul, compared to 107,603 which will owe less. Here are the five ZIP codes he estimates will experience the highest average annual tax hikes, assuming (optimistically) a 1.25% tax rate. Listed are the annual amounts average properties in each ZIP would owe.

19102: $1,634 (39.8% increase)

19148: $819 (78.4% increase)

19146: $768 (44.6% increase)

19130: $815 (27.3% increase)

19103: $946 (17.5% increase)

I expect not a few of you loyal readers live in these ZIPs, which comprise Rittenhouse, Fitler, Grad Hospital, parts of South Philly and Fairmount, among other neighborhoods. More surprisingly several neighborhoods that would experience big tax hikes aren’t quite so tony as these ones. The highest tax increase–191%–would occur in 19133, a North Philly area not quite known for its rapid gentrification. [Daily News]

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