The Pennsylvania Department of Revenue has effectively increased the value of commercial real estate in many counties with its recent release of common level ratios, creating an opportunity for owners of retail, office, industrial or other commercial property to appeal their tax assessments.
The COVID-19 outbreak has caused many commercial property owners to experience declining rents and other factors that support a reduction in their tax assessment.
Deadlines to file appeals of tax assessments are quickly approaching in some counties.
Appeals in Bucks, Chester, Lancaster, Lehigh, Montgomery and Northampton counties must be filed by August 1, 2020 (although most allow filing on Monday, August 3, as August 1 is a Saturday); in Berks County by August 17, 2020, in Delaware County by September 1, 2020, and in Philadelphia County by October 5, 2020.
Increased common level ratio factors effective July 1, 2020:
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