Philadelphia Tax Re-Assessments
You probably know that the city of Philadelphia has been re-assessing all of the approximately 500,000 properties in the county. Many people have approached me with questions about how it will impact them. As of this week, TREND gave member agents and brokers access to this information by adding the re-assessment information to the Public Records section of their member site. Now, we can help inform clients and give them greater insight when planning to purchase properties in the city in the New Year.
They even took adding this information a step further, and also calculated the estimated 2014 annual taxes for each of the 500,000 parcels for us as well – thanks to persistent requests. Realtors can find this information on the Detailed Report in the County Legal Description field. If you would like this information on a property you own or are considering purchasing, contact your realtor. If you are not currently working with another agent, I would be happy to answer questions for you. You can contact me here.
For many of my clients and others represented by Kurfiss Sotheby’s in Philadelphia, including those with investment portfolios, and ranging from areas such as Northern Liberties to Society Hill to Fairmount and Chestnut Hill, the effects of the changes are nominal. In some cases, where the change in taxation seems drastic, the previous assessments were hard to justify. Overall, the supposed benefit of the new system will be a city-wide reform and a more uniform system to rely on. Read a bit more about how people are feeling about this in my post about it here.