Philly property owners must brace themselves again for getting bombarded with a 3rd straight year of increased real estate taxes. It doesn't seem that this reformation of the BPT is going to happen? I have a brilliant idea, provide an incentive to businesses to come to Philadelphia! Lower the business tax which will bring more workers and residents into the city. Yes this is sarcasm. The point-- can we really trust city council to use the revenues derived from more property taxes wisely. Philadelphia has had a hard time … [Read more...]
Philadelphia Property Tax Overhaul Continues
Philadelphia’s Office of Property Assessments (OPA) has mailed out all new tax assessments under the greatly anticipated Actual Value Initiative (AVI) earlier this month. The information mailed by OPA includes the new assessed value, and instructions on the opportunity to dispute the new assessments. It is still unknown how successful a homeowner will be in protesting their new assessment but it does seem that the city is providing easy explanation and instructions on how to protest. Appraisals, BPO’s, CMA’s and comps from local … [Read more...]