Daily News | Thousands of Philly homeowners are challenging their property values. Lower-value homes are underrepresented.
Owners of more than 26,000 Philadelphia properties have challenged the city’s real-estate valuations following sharp jumps in this year’s real estate tax bills.The appeals process is meant as a recourse for homeowners whose assessments don’t reflect their property’s market value. It requires the city or an independent judicial body to review property values and make adjustments, if warranted.
The Inquirer analyzed appeal data since 2014, when the current system for challenging assessments was put in place. Here’s what we found.In total, the city received more than 30,000 appeals: about 12,000 to the Board of Revision of Taxes, and about 20,000 to the Office of Property Assessment. The city received the highest number of appeals under its current system in 2014, when Philadelphia implemented the controversial Actual Value Initiative and significantly increased property values across the city. Before last year’s revaluation, OPA had last released new values citywide in 2019. The three-year gap resulted in a sharp increase for homeowners citywide.
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