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Client Advisories 11 results
Client Advisories
08.09.2024
Philadelphia Property Reassessments for Tax Year 2025
The Philadelphia Office of Property Assessment has completed a citywide reassessment of more than 580,000 properties in Philadelphia to take effect tax year 2025. According to City assessment data, the aggregate value of all properties in Philadelphia has risen by more than 13 percent since tax year 2023.
Client Advisories
04.25.2024
State Tax Equalization Board Releases 2023 Common Level Ratios
The State Tax Equalization Board (STEB) has released its Common Level Ratio (CLR) of assessed value to market value for each county in Pennsylvania for calendar year 2023 (applicable to tax appeals filed for tax year 2025). The CLR can be used to convert fair market values into assessed values in conjunction with property tax appeals, subject to a taxpayer’s right to claim a lower ratio to reflect the same level of assessed value to fair market value for similarly situated property. The 2023 CLRs can be viewed here.
Client Advisories
05.25.2022
Philadelphia Property Reassessments for Tax Year 2023
The Philadelphia Office of Property Assessment is implementing a citywide reassessment of more than 580,000 properties in Philadelphia to take effect tax year 2023. According to the City, the reassessment found that the aggregate value of all properties in Philadelphia has risen by approximately 21 percent since tax year 2020. The City expects the reassessment increases will result in higher property taxes and projected $460 million in additional tax revenues to its General Fund over the next five-year period.
Press Releases 6 results
Press Releases
04.19.2018
David A. Schneider Presented Seminar to City of Philadelphia Office of Property Assessment
David Schneider, a Partner in Archer’s Real Estate Tax Appeal Group, recently presented the seminar, “Highest and Best Use – Important Factors to Consider” to evaluators in the City of Philadelphia Office of Property Assessment. Robert Luciani, CPE Training Supervisor, Real Property Evaluator, City of Philadelphia Office of Property Assessment, presented along with Mr. Schneider. The presentation addressed the various factors and legal considerations required in determining the highest and best use of real property, and how such determination impacts valuation for assessment purposes.
Press Releases
03.14.2018
David A. Schneider Presented Seminar to City of Philadelphia Office of Property Assessment
David Schneider, a Partner in Archer’s Real Estate Tax Appeal Group, recently presented the seminar, “Understanding Leases - Types, Terms, and Impact on Assessment” to evaluators in the City of Philadelphia Office of Property Assessment. Robert Luciani, CPE Training Supervisor, Real Property Evaluator, City of Philadelphia Office of Property Assessment, presented along with Mr. Schneider. The presentation addressed the impact of leases on various interests in real estate, valuation of those various interests for assessment purposes, and the differences between investment or contract value, value-in-use and fair market value.
