Philly to skip property tax reassessments this year
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Philadelphia will skip property reassessments this year, keeping values steady.
Why it matters: It could be a reprieve for some property owners amid rising real estate prices.
Worth noting: Today is the deadline to pay your property taxes, and this year's bill will reflect assessments from 2024.
- Most property owners will pay the same amount come March 2026 — thanks to this year's reassessment freeze.
Driving the news: The Parker administration scrapped property revaluations this year due to the high number of property appeals filed following assessments last year, per chief assessment officer James Aros Jr.'s prepared comments for last week's legislative hearing.
By the numbers: Approximately 20,000 informal "First Level Review" appeals were filed over last year's reassessment, Aros said during the hearing.
- About 11,000-12,000 additional appeals were filed directly with the Board of Revision of Taxes.
- Context: Those figures are roughly consistent with recent revaluation years.
Flashback: The city conducted property reassessments in 2024 after having skipped doing so in 2023 over — again — high numbers of appeals.
The intrigue: Skipping assessments leaves one-time revenue on the table for the city at a time when Mayor Cherelle Parker is spending big on her agenda.
What they're saying: The lack of reassessments this year is giving property owners "a little grace period where people don't see their real estate taxes actually increasing," Council President Kenyatta Johnson said during the legislative hearing.
What we're watching: When the city will send tax bills to property owners.
- Property owners typically receive them in April or May, but the Parker administration was months behind schedule last year.
- A Parker spokesperson declined to comment.
What's next: Aros expects citywide property revaluations to be conducted every other year, barring any unforeseen circumstances, per his prepared comments.