Philadelphia taxpayers whose property values have dropped due to COVID-19 will not receive property tax relief through planned reassessments. Instead, they will have to file tax appeals in 2020 and 2021 to reduce their property tax assessments. This is because planned citywide reassessments have been cancelled for the next two years.
The City of Philadelphia has announced that due to operational concerns caused by the COVID-19 pandemic, it will forego a citywide reassessment of all property values for tax year 2022. The last citywide reassessment was for tax year 2020 based on values the Office of Property Assessment certified on or before March 31, 2019. This means that until at least tax year 2023, real estate tax assessments in Philadelphia will generally reflect values prior to COVID-19. Even if the pandemic has significantly reduced the value of your property, your assessment may not change unless you file a timely assessment appeal.
The annual assessment appeal deadline in Philadelphia is on or before the first Monday in October of the pre-tax year. Taxpayers should evaluate the impact of COVID-19 and current market conditions on the value of their property, and take the necessary steps to protect their rights to a fair and uniform assessment.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.