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For the first time in three years, Philadelphia released new property assessments and many homeowners saw a significant increase. The pandemic delayed the assessments and we also saw home prices go up during that time. This new assessment will determine what your property tax will be in 2023. Many people were shocked at how much their assessments increased. If you fall into that category, you still have time to appeal your property assessment, but the deadline is approaching fast.
Two Deadlines You Need to Know:
Monday, October 3, 2022:
Formal Appeal to the Board of Revision of Taxes (BRT)
The Board of Revision of Taxes (BRT) hears formal appeals of property assessments. This is different than the Office of Property Assessment (OPA), which does First Level Reviews. The OPA decides the dollar-value of all real estate within Philadelphia, which then determines how much property tax the homeowner will owe.
Homeowners who disagree with the OPA can file a formal appeal with the BRT. File a real estate market value appeal if:
You think the City’s value of your property is too high or too low.
The value doesn’t match similar properties in your area.
There is a mistake about your property’s square footage, condition, or other characteristics.
Homeowners can appeal other things that affect their property like denied tax abatement, denied non-profit exemptions, Homestead Exemptions and eminent domain.
How to file:
You’ll need to fill out these forms on the city’s website. Those include:
2023 market value appeal form Use this form to appeal your property's assessed market value to the BRT.
2023 appraisal summary cover sheet Use this form to provide appraisal information about a property that you're appealing to the BRT.
2022 appraisal summary cover sheet Use this form to provide appraisal information about a property that you're appealing to the BRT.
2022 appeal withdrawal form Use this form to withdraw your market value appeal from consideration by the BRT.
2021 appraisal summary cover sheet Use this form to provide appraisal information about a property that you're appealing to the BRT.
There are also forms you can use if you’re filing late:
Denied abatement or exemption appeal form Use this form to appeal a denied abatement, nonprofit tax exemption, or Homestead Exemption to the BRT.
Power of attorney form Use this form to appoint an authorized representative to represent your appeal to the BRT.
Friday, October 14, 2022:
First Level Review (FLR) to the Office of Property Assessment (OPA)
This deadline was originally September 30th, but the city extended the deadline to October 14th. If you think that your new property value assessment is incorrect, you can request a First Level Review through the Office of Property Assessments (OPA). You must be able to prove one of the following:
Incorrect market value or property characteristics: The valuation of your property is too high or too low, and/or the characteristics of your property that affect its valuation are substantially incorrect.
Non-uniformity: The valuation of your property is not uniform with other properties throughout the city.
Incorrect exemption or abatement: The exemption or abatement listed for the property is not correct or is missing.
Financial impact and/or the rate of the value change is not sufficient grounds for review. How to file: You should have received a notice in the mail about your new property assessment. There is a form to request an FLR is included with Notices of Proposed Valuation. If you did not receive it or misplaced your FLR form, contact (215) 686-9200 to request a replacement form. Complete and submit the FLR request form by October 14, 2022. Include any additional information for the Office of Property Assessment (OPA) to consider, such as photos or recent appraisals.
Can You File for Both Appeals?
Yes, you can. You can file a First Level Review to the OPA and a formal appeal with the BRT. You may file both as long as you adhere to each deadline. Filing for both can maximize your chances of getting approved.
How to View Your Property Assessment & Your Tax Exemptions
Click here to find the page on the City of Philadelphia’s website. Type in your address in the search bar and press enter. Your’ll find your new assessed value as well as the assessments from the past several years going back to 2015. You will also see if you have any tax exemptions. Other things you’ll find on this page are your tax balance, the sales history, and property characteristics.
Looking to Save on Taxes? You Might Quality For This:
The City of Philadelphia offers a Homestead Exemption program to reduce the taxable portion of your property’s assessed value and this increased this year. This exemption increased from $45,000 (saving them $630 per year on their tax bill) to $80,000 (saving them $1,100 per year on their taxes). With this exemption, the assessed value of the property is reduced by $80,000, saving homeowners about $1,100 per year on their tax bill. All Philadelphia homeowners are eligible for this exemption if it’s their primary residence and they currently live in that home. However, you are not eligible if you have a 10 year tax abatement. You can apply for the Homestead Exemption once your abatement expires.
How to Calculate Your 2023 Property Tax Bill
To get an estimate of your 2023 property tax, you’ll just need a calculator. Multiply your new assessed value by Philly’s current real estate tax rate, which is 1.3998% (or 0.013998). If you have an exemption, subtract that from your assessed value before you do the multiplication.
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