Mayor Michael Nutter unveiled a $3.8 billion budget proposal Thursday that relies on property and sales tax increases to preserve libraries once slated for closure, protect health centers and maintain core city services. Over the next five years, Philly is projected to have a 1 billion dollar deficit. Nutter's proposal calls for a temporary 19 percent increase in the property tax for the fiscal year that begins in July, followed by a 14.5% increase the next year. It also proposes raising the sales tax from 7 percent to 8 percent for three years - a move that requires state approval - as well as cutting about 250 jobs and making changes to the city's pension plan. Also, with the help of private funding, 36 swimming pools will be open this summer.
