Amending Chapter 19-1800 of The Philadelphia Code, entitled "School Tax Authorization," to provide for an increase in the tax that the Board of Education of the School District of Philadelphia is authorized to impose on real estate; and amending Chapter 19-1300, entitled "Real Estate Taxes," to establish an equivalent reduction in the tax rate for the City real estate tax; all under certain terms and conditions.

Amending Chapter 19-1800 of The Philadelphia Code, entitled “School Tax Authorization,” to provide for an increase in the tax that the Board of Education of the School District of Philadelphia is authorized to impose on real estate; and amending Chapter 19-1300, entitled “Real Estate Taxes,” to establish an equivalent reduction in the tax rate for the City real estate tax; all under certain terms and conditions. THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Title 19 of The Philadelphia Code is hereby amended as follows: TITLE 19. FINANCE, TAXES AND COLLECTIONS * * * CHAPTER 19-1300. REAL ESTATE TAXES. § 19-1301. Real Estate Taxes. * * * (2) For tax year 2014 and thereafter: (a) * * * (.3) For tax year 2025 [and thereafter,] through tax year 2029, the Tax Rate shall be 0.6159%, or sixty-one and fifty-nine hundredths cents ($0.6159), per one hundred dollars ($100) of Net Taxable Value. (.4) For tax year 2030 and thereafter, the Tax Rate shall be 0.6089%, or sixty and eighty-nine hundredths cents ($0.6089), per one hundred dollars ($100) of Net Taxable Value. * * * CHAPTER 19-1800. SCHOOL TAX AUTHORIZATION § 19-1801. Authorization of Tax. * * * (3) For tax year 2014 and thereafter: * * * (a.3) For tax year 2025 [and thereafter,] through tax year 2029, the Tax Rate shall be 0.7839%, or seventy-eight and thirty-nine hundredths cents ($0.7839), per one hundred dollars ($100) of Net Taxable Value. (a.4) For tax year 2030 and thereafter, the Tax Rate shall be 0.7…