2025 Phila Tax Assessment - Large increases coming

[Alan Asriants]

In 2023, we saw the city of Philadelphia conduct new tax assessments and increase taxes all across the board. This outraged a lot of homeowners, but the city is looking to conduct another reassessment for 2025.

The 2023 tax hikes will seem small in comparison to what is coming in 2025. While some neighborhoods are actually seeing a decline in tax assessment values, many will see an increase and even more than what the properties are worth.

To give you some perspective on what those tax increases can look like here are some examples of the changes based on some of my properties that I own in the city:

$4096 -> $5522 (+1426)

$3850 -> $5516 (+1666)

$3835 -> $6283 (+2448)

These are only some examples, but all of the properties that I own have increased in its tax assessed value, therefore drastically increasing the taxes per year and decreasing annual cash flow.

While tax assessments are normal it seems that this is a very drastic effort to recuperate losses. It's possible that this increase can prevent a lot of people from buying and might even force others to sell.

Do not wait for your taxes to increase. Instead you can try to APPEAL your taxes using the form below:

https://www.phila.gov/media/20240327122414/BRT-Market-Value-Appeal-Form-2025.pdf

The deadline is OCT 7TH 2024!