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Philadelphia Mayor Unveils $6.1 Billion Budget Plan, Emphasizing Education, Economy, and Public Safety

Strategic Insights

— 1 min read

Philadelphia Mayor Jim Kenney presented his eighth and final budget address to City Council on Thursday, proposing a $6.1 billion plan that focuses on improving education, addressing economic inequality, and tackling the city's gun-violence crisis. The budget allocates $55 million for police and $25 million for anti-violence programs, while also including funding for a pilot program to provide free SEPTA passes to city employees and 25,000 residents living in poverty. The plan reflects Kenney's commitment to the city's financial health, with a projected surplus of $540 million and a commitment to saving $550 million in a rainy day fund.

Key Takeaways:

  • The proposed budget is $6.1 billion, a 4.4% increase from last year's approved budget of $5.84 billion.
  • The city's property tax rate will be frozen, and all property assessments will be put on hold amidst a flood of reviews requested by homeowners after the reassessment completed last year.
  • The mayor's plan includes a $55 million increase for the police budget, with the department's overall allocation reaching over $850 million.
  • The budget proposed nearly $10 million for the police department to hire additional analysts for its hot spot patrol strategy.
  • The city will draw down nearly $400 million this year and $449 million next year to exhaust the federal pandemic relief dollars allocated to the city.
  • The plan includes funding for a pilot program to provide free SEPTA passes to city employees and 25,000 residents living in poverty.
  • The city's wage tax will be decreased from 3.79% to 3.7565%, and the net income portion of the business income and receipts tax will be lowered from 5.99% to 5.83%.

Statistics:

  • The city's budget will increase by 4.4% from the approved budget of $5.84 billion.
  • The police department's allocation will reach over $850 million.
  • The city will draw down $849 million in federal pandemic relief dollars by the end of 2024.
  • The city's surplus will be $540 million.
  • The budget includes funding for a pilot program to provide free SEPTA passes to 25,000 residents living in poverty.

Sources:

  • "Philadelphia Mayor Unveils $6.1 Billion Budget Plan, Emphasizing Education, Economy, and Public Safety." The Philadelphia Inquirer. 2023.

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