Broad Street Brief: City Council Approves FY25 City Budget – Special Edition
June 6, 2024
June 6, 2024
In the early hours of Thursday, June 6, Philadelphia City Council advanced Mayor Cherelle Parker’s proposed $6.37 billion FY25 Budget. The budget prioritizes public safety and quality-of-life improvement without raising taxes. The budget also includes property tax relief for low-income homeowners and increases the homestead exemption for owner-occupied properties from $80,000 to $100,000. A brief summary is included below.
The budget bills received first reading during the regular scheduled meeting of City Council today, which sets them on track to receive second reading and final passage next week prior to summer recess. Once approved finally, the budget will head to Mayor Parker for signature.
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