Mayor Nutter and City officials provide update on the Actual Value Initiative (AVI).
Mayor Michael A. Nutter announced that Property Assessment Notices for tax year 2014 for residential, commercial and industrial properties are being mailed and are available online today. The Assessment Notices reflect, for the first time, the real value of properties in Philadelphia.
Assessment Notices for a small percentage of properties will be delayed, while the Office of Property Assessment finalizes assessment values and information. These notices will be mailed by March 1st.
“For decades, the property tax system in Philadelphia has unfairly undervalued and over-assessed properties across the City,” said Mayor Nutter. “Under AVI, for the first time, property owners will see a fair and equitable tax system based on an accurate valuation of real properties. These assessment notices will be the first of many that demonstrate our commitment to industry best practices and a transformed approach to assessing properties.”
In addition to the 2014 Property Assessment Notices, property owners will receive information on and the form to file a First Level Review, an informal review by OPA evaluators for property owners who believe his or her value is inaccurate, not in line with similar properties, or an exemption or abatement is missing or incorrect. The First Level Review, a new addition to the existing Board of Revision and Taxes formal appeal process, allows property owners to discuss and provide information directly to their assessor about their property. First Level Reviews must be filed by March 31, 2013.
Using the new assessment valuations and the Administration’s intention of generating the same amount of revenue under AVI in 2014 as will be generated in 2013, analysis shows that 40% of Philadelphia residential property owners will see a property tax decrease or pay the same amount at a rate between 1.2 and 1.25% and with no relief measures.
Factoring in a $30,000 Homestead Exemption, the tax rate would rise to between 1.35 and 1.4%. Analysis shows that, assuming a 1.385% tax rate and a $30,000 Homestead Exemption, even more Philadelphia property owners would see a decrease or pay the same property tax in 2014 as 2013.
Mayor Nutter also released property assessment data for almost 80 City Administration Officials.
“Our Administration officials live in different types of homes with different property values in different neighborhoods across the City. By releasing this data, our intention is to be transparent but more importantly to reflect the changes in assessments across the City – some decreasing and some increasing,” said Mayor Nutter.
To determine the assessment value for a property, the Office of Property Assessment evaluated property characteristics, including size, age and condition of property, geographical location, and home or business status. Field assessments, deed and permit records, aerial photos, square footage, land value and sales data were also used to help calculate the actual property value.
For additional information on the Actual Value Initiative, how to read your assessment, the Homestead Application process or the Office of Property Assessment, log on to www.phila.gov or www.phila.gov/opa, or by calling 215-686-9200.
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|First Level Review Form.pdf
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|Budget Overview Fin.pdf
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|AVI Brochure PDF.pdf
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|AVI Poster How to UnderstandFINAL_01212013.pdf
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|Assessment Change Notice FINAL.pdf
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|2-15 MAYOR ANNOUNCES MAILING OF PROPERTY ASSESSMENT NOTICES.doc
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