Many homeowners will see increased real estate tax bills this year because the city is reassessing all of Philadelphia’s roughly 580,000 properties for the first time in two years.Cherelle L. Parker
The deadline imposed by state law for Philadelphia to release the new assessments was March 31. As recently as early June, city Finance Director Rob Dubow said they would be completed by the end of the month. The administration is no longer offering a timeline for their release.The city in late June posted some valuations on the city’s online property search tool without announcing it to the public.
“This is budgeting season for major properties, commercial properties,” he said. “That’s another stressor.” But Parker’s team promised to produce more concrete numbers by the time Council voted on the budget in early June. That didn’t happen. Revenue from the property tax is split between the city and school district, and Council also approved Parker’s proposal to increase the district’s share from 55% to 56%. That change that won’t affect tax bills.The state law that establishes the deadline for new assessments doesn’t include any consequences for the city if it blows past that date, Kelsen said.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dcexaminer - 🏆 6. / 94 Read more »