The recent property assessments conducted by Philadelphia County focus on 'high-value' commercial, industrial and institutional properties, with increased assessments likely for many.

2018 Philadelphia County Reassessment

Philadelphia County concluded a reassessment for the 2018 tax year focusing on "high-valued" commercial, industrial, and institutional properties. According to testimony provided by Philadelphia's chief assessment officer before City Council on April 5, 2017, the "high-valued" properties include hotels, office buildings, apartment buildings, all retail properties, restaurants, movie theatres, warehouses, multi-use properties, and even commercially zoned vacant land. The chief assessment officer further represented that assessment increases are proposed for many of the properties. Reassessment notices are scheduled to be mailed to property owners starting Friday, April 14, 2017.

Property owners may request a first-level review with the Office of Property Assessment by submitting the request form included with the reassessment notice within 30 days of the date of mailing of the notice. Our experience is that informal reviews only correct property data errors, and do not address specific valuation concerns.

If property owners remain dissatisfied with the results of their first-level review, they will have the right to file a formal appeal with the Philadelphia Board of Revision of Taxes no later than Monday, October 2, 2017. The chief assessment officer anticipates that many property owners will likely file appeals based upon the process. Property owners electing not to participate in the first-level review process will not waive their right to file a formal appeal.

We would be glad to assist you in evaluating your property for an informal review or a possible appeal. Please contact us at the number or email listed below to request an evaluation of your property.

This article is presented for informational purposes only and is not intended to constitute legal advice.