Bill 160471
Amending Chapter 19-1400 of The Philadelphia Code, entitled "Realty Transfer Tax," by revising the rate of the tax, all under certain terms and conditions.
Introduced by
From the floor
Passages in the official transcripts that cite this file number. Every quote links to its exact place in the record.
“Thank you, Mr. Council President and the members of Council. My name is Ne'Chelle Kennedy. I'm also a realtor with Greater Philadelphia Association of Realtors, and I respectfully urge you to vote against Bill No. 160471. I wholeheartedly support the effort to address secure, safe, healthy, and affordable homes for our city's residents. However, increasing taxes for property owners while incurring additional bond deb…”
Ms. Kennedy · Stated Meeting, June 16, 2016 · Jun 16, 2016 · official transcript, this passage
“The Committee on Finance, to which was referred Bill No. 160402, entitled "An ordinance approving the Fiscal Year 2017 Capital Budget providing for expenditures of the capital purposes of the Philadelphia Gas Works"; and Bill No. 160470, entitled "An ordinance amending the ordinance approved July 12, 1968, as last amended June 12, 2014, relating to pension benefits for employees working on behalf of the Philadelphia…”
Chief Clerk · Stated Meeting, June 9, 2016 · Jun 9, 2016 · official transcript, this passage
Status timeline
- May 12, 2016Introduced and Referred · CITY COUNCIL
- Jun 2, 2016HEARING NOTICES SENT · Committee on Finance
- Jun 2, 2016HEARING HELD · Committee on Finance
- Jun 2, 2016AMENDED · Committee on Finance
- Jun 2, 2016REPORTED FAVORABLY, RULE SUSPENSION REQUESTED · Committee on Finance
- Jun 9, 2016READ AND ORDERED PLACED ON NEXT WEEK'S SECOND READING CALENDAR · CITY COUNCIL
- Jun 9, 2016ORDERED PLACED ON THIS DAY`S FIRST READING CALENDAR · CITY COUNCIL
- Jun 9, 2016SUSPEND THE RULES OF THE COUNCIL · CITY COUNCIL
- Jun 16, 2016READ AND PASSED · CITY COUNCIL
- Jun 20, 2016SIGNED · MAYOR
Official documents
Documents open on the City of Philadelphia’s legislative site.
Full text
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..Title Amending Chapter 19-1400 of The Philadelphia Code, entitled "Realty Transfer Tax," by revising the rate of the tax, all under certain terms and conditions. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Chapter 19-1400 of The Philadelphia Code is hereby amended to read as follows: CHAPTER 19-1400. REALTY TRANSFER TAX. * * * § 19-1403. Imposition of Tax. (1) Every person who transfers ownership of real estate situate within the City or who makes, executes, delivers, accepts or presents for recording any document or in whose behalf any document is made, executed, delivered, accepted or presented for recording, or who accepts ownership of real estate situate within the City, shall be subject to pay for and in respect to the transaction or any part thereof, or for or in respect of the vellum parchment or paper upon which such document is written or printed, a tax based on the value of the real estate represented by such document, which tax shall be payable at the earlier of the time the document is presented for recording or within thirty (30) days of acceptance of such document or within thirty (30) days of becoming an acquired real estate company or family farm corporation. For documents made, executed, delivered or accepted or presented for recording during each of the following fiscal years, the amount of tax shall be computed by multiplying the value of the real estate represented by such document by the following rates of tax: * * * (f) three and twenty-three one-hundredths percent (3.23%) for the fiscal year of the City commencing July 1, 1993 and ending June 30, 1994; [and] (g) three percent (3.0%) for the fiscal years of the City commencing July 1, 1994 and [thereafter] ending June 30, 2016, and for the period commencing July 1, 2016 and ending December 31, 2016; (h) three and ten one-hundredths percent (3.10%) for the period commencing January 1, 2017 and ending December 31, 2036; and (i) three percent (3.0%) for the period commencing January 1, 2037 and thereafter. * * * SECTION 2. This Ordinance shall be effective for all transactions taking place on or after July 1, 2016. _________________________________ Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added. ..End