Daily News | Philly property assessments are systemically inaccurate in Black and low-income neighborhoods
How can almost identical homes get wildly different assessments?
For the lowest-priced properties, sales may not even enter OPA’s database because “people in these neighborhoods had to devise ways of transferring properties without mortgage assistance”; on the higher end of the spectrum, properties sell based on amenities OPA may not be tracking. Because assessments are built on past data, they are already out of date by the time they are released, which means assessors are always playing catch-up — which can leave them blindsided.
OPA could also collect more data on property features to better understand how they all contribute to a home’s market value, though there’s no industry consensus on the specific features assessors should consider. The IAAO has a few recommendations, but further variables are left to the discretion of the assessing authority, Clark said. As a rule of thumb: More data helps.
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