In this Issue:

Philadelphia Property Owners Have Opportunity To Significantly Reduce Property Taxes

The State Tax Equalization Board recently dropped the Philadelphia Common Level Ratio (“CLR”) from .32 to .181. This significant drop means that many properties in Philadelphia are over-assessed and results in an opportunity for Philadelphia property owners and others responsible for paying Philadelphia property taxes to significantly reduce their bottom line property tax bill by filing an appeal. The Philadelphia appeal deadline is October 1, 2011.

This drop in CLR has enormous significance for Philadelphia property owners and others responsible for paying Philadelphia property taxes.