Philadelphia Mayor Jim Kenney is asking for a smaller property tax increase to better fund the city's schools.
The reason: properties across the city are worth more than last year.
Earlier this month, Kenney asked city council to increase property taxes by 6-percent to help erase a nearly $1 billion budget deficit at the School District of Philadelphia.
On Thursday, the mayor amended the proposal requesting only a 4.1-percent tax hike.
The mayor's office said real estate values in total increased by 11-percent in the past year. That's higher than expected and means the city can collect the money they need with less of a cost to individual property owners.
Under the original proposal, a homeowner whose home was valued at $113,000 (the past median value) would've paid $95 more a year.
Now, the median home value is $128,100. So, the current proposal would mean they pay an additional $73 a year, according to numbers provided by the city. Those with the Homestead Exemption would see larger reductions.
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The revised proposal is sure to be more palatable to council members. The last property tax hike, in 2015, was 4.5-percent.
