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Apr 23, 2020 · Disclaimer – The City of Philadelphia makes no warranty or representation whatsoever, express or implied, with respect to the quality, content, accuracy, completeness, currency, freedom from computer virus, suitability for any particular purpose, or non-infringement of proprietary rights, of any of the information published on this site. All ...
- Real Estate Tax
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- Real Estate Tax
- Overview
- Philadelphia’s Property Tax Base
- Measuring Philadelphia’s Assessment Performance
- Conclusion
- Appendix
- Endnotes
Many Philadelphians dislike the city’s property tax. In a Pew Philadelphia Poll conducted in early 2022, respondents ranked the tax’s fairness below that of the city’s wage and sales taxes. And when property values from the latest round of assessments were posted in May, some City Council members said they were flooded with calls from outraged cons...
According to OPA, the aggregate value of all property in Philadelphia was $170 billion in fiscal 2021, the most recent year for which complete data was available.27Approximately one-third of the total value was exempted for various reasons, leaving a taxable base of $115.4 billion. Pew’s analysis of the numbers found that Philadelphia’s tax base ha...
Among the keys to having a property tax system that is perceived as reasonable are fair and consistent assessments—in other words, that tracts in comparable neighborhoods have similar assessments. Assessed values are meant to reflect market values.46Most homeowners have a sense of how much their house would go for were they to put it up for sale, p...
Philadelphia is less dependent on the property tax than other places are, but the tax is a significant source of revenue for the city and the school district. And as the pandemic-related downturn reaffirmed, it is also one of the more stable sources of local revenue, less volatile than taxes on wages or consumption, making city governments that rel...
Review of ratio studies
The quality of a jurisdiction’s assessments is measured by a statistical analysis called a ratio study, which takes a representative sample of property transactions and compares sale prices with assessed values. Because buyers and sellers may sometimes agree on sale prices that diverge from market expectations, assessments will never align perfectly with sale prices. But the International Association of Assessing Officers (IAAO) sets target ranges for the statistical tests of quality, which a...
J. Aros Jr. (chief assessment officer, Philadelphia Office of Property Assessment), testimony before the Philadelphia City Council, Committee of the Whole (May 9, 2022).G. D’Ambrosio, “Commission Urges Tax Reform to Boost Philadelphia Business,” The Bond Buyer, Nov. 18, 2003, https://www.bondbuyer.com/news/commission-urges-tax-reform-to-boost-philadelphia-business.A. Burdo, “Philadelphia’s Toxic Tax—and It’s Not the Wage Tax: How the City’s Tax on Net Business Income Is Putting Us Behind in the Competition for Quality Jobs,” Philadelphia Business Journal, Ju...E. Haider and J. Hachadorian, “How the Pandemic Has Affected Municipal Budgets in Philadelphia and Other Cities,” The Pew Charitable Trusts, March 30, 2021, https://www.pewtrusts.org/en/research-an...People also ask
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Contact Information. Who is submitting the Property Inquiry? Owner. Agent. Other. Name * Name is required. Email *. Valid Email Address is required Valid Email Address is required. Daytime Phone Number * Daytime Phone Number is required and should be numeric.
Property may include land, buildings, mobile homes, and houses. Real Estate taxes are due once a year, on March 31st of the tax year. If the taxes are not paid by March 31st of the tax year, a penalty charge called “additions” will accrue on the principal amount of the tax up to a maximum charge of 15% of the principal amount due.
Sep 26, 2022 · You should have gotten a request form with your notice of proposed assessment. If you lost or don’t have the form, call the OPA at 215-686-9200 to request a replacement. Because the city was so ...
