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.
David Schneider is a partner in Archer’s Real Estate Tax Appeal Group. His primary practice is Pennsylvania property tax appeals where he has significant experience representing Philadelphia taxpayers. Please feel free to contact David at 484.213.4394 or firstname.lastname@example.org to discuss how you may be able to lower your assessment and real estate taxes.
DISCLAIMER: This client advisory is for general information purposes only. It does not constitute legal or tax advice, and may not be used and relied upon as a substitute for legal or tax advice regarding a specific issue or problem. Advice should be obtained from a qualified attorney or tax practitioner licensed to practice in the jurisdiction where that advice is sought.