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Topic: AVI likely to take a big toll
on small businesses |
AVI likely to take a big toll
on small businesses
Philadelphia Inquirer, by Jan Ransom
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Original Article
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Posted By:JoniTx, 2/21/2013 2:23:56 PM
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| East Passyunk Avenue was not always the vibrant South Philly commercial corridor it is today, with its chic boutiques, cafes and trendy restaurants. Just ask chef Lynn Rinaldi. Rinaldi, 48, grew up on 12th Street near Tasker, not too far from the bustling strip where she and her husband own two restaurants, Izumi and Paradiso. And she could be hit particularly hard under the Actual Value Initiative, a new property-tax system based on market values. The three-story building where Paradiso is situated, on Passyunk near Tasker Street, was assessed at $100,000 for 2013 and valued at $505,000 for 2014.
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Reply 1 - Posted by:
wsdiego, 2/21/2013 2:30:18 PM (No. 9189298)
Some people will have to be laid off! Higher taxes are more important that paying a million dollars a person for a federal job! s/o
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Reply 2 - Posted by:
A Balrog of Morgoth, 2/21/2013 2:31:26 PM (No. 9189300)
"a new property-tax system based on market values."
What are they supposed to base the assessment on, if not market values?
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Reply 3 - Posted by:
Mass Minority, 2/21/2013 3:13:15 PM (No. 9189392)
#2, a lot of countys around Philadelphia use a rather bizarre property value calculation which gives assesed values that have no resemblance to market value. For years in the 90´s my Montgomery county home (Bought for $146,000) had an assesed value of $13,000. Over the last decades many have wanted to move to an AVI system, which would seem fairer.
The problem for many is that the democrat controlled governments want to change from the histopric assesed value to an AVI without adjusting the millage rate. Obviously this hikes property taxes on home owners five to ten fold.
I think Montgomery county did go to an AVI based system but at the same time they re adjusted the millage rate as well so my taxes actually went down a couple 10 bucks.
Other places the local governemnts and school boards just rubbed their hands together and waxed ecstatic over how to spend all the new tax revenue re-assesment was going to send their way.
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Reply 4 - Posted by:
FunOne, 2/21/2013 3:20:50 PM (No. 9189403)
Apply the Detroit model.
Expect the Detroit outcome.
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Reply 5 - Posted by:
bob913, 2/21/2013 3:53:11 PM (No. 9189467)
The "Nutter" administration....
There´s your problem!
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Reply 6 - Posted by:
Trust No One, 2/21/2013 4:02:30 PM (No. 9189480)
Yeah, the system just like the banks are using --- you know the ´mark to market´ valuation of their "assets". /s
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Reply 7 - Posted by:
4Justice, 2/21/2013 4:08:38 PM (No. 9189492)
That makes no sense...if they assessed it at $100K this year, how can they assess it for 5 times that amount for a year that hasn´t even happened yet???? I hate government tyrants!
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Reply 8 - Posted by:
oldsfc, 2/21/2013 4:51:24 PM (No. 9189538)
How many of these small business owners voted for these clowns? Be careful, you might get what you wish for.
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Reply 9 - Posted by:
MickTurn, 2/21/2013 6:24:23 PM (No. 9189684)
DIMS...YOU are RICH, we are here to steal your money and punish you for being successful...can we do lunch for free?
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