Philadelphia County to Mail Reassessment Figures to Property Owners in February 2013


Philadelphia County will be issuing the new “Actual Value Initiative” reassessment figures to every Philadelphia property owner in February. These new assessments are to reflect the actual market value of the property. More specifically, actual market value is the price that would have been paid for the property February 1, 2013, if it was for sale on the open market.

Any taxpayer that disagrees with the new assessed value of the property may submit an informal review form, which will be included in the February 2013 mailing, to request an informal review by the Philadelphia Office of Property Assessment (“OPA”). The form will offer an opportunity to the property owner to provide information to the OPA for consideration. The OPA will then determine if an adjustment in the assessment is warranted. If a taxpayer still believes that the assessed value is incorrect after the informal review process, the next step is to file an appeal with the Philadelphia Board of Revision of Taxes before the annual appeal deadline (October 7, 2013).

We are well prepared to assist you in evaluating the tax implications of the reassessment figure you receive, and whether an appeal is warranted. Please contact the authors if you have any questions regarding this matter.

Written by:

Published In:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Reed Smith | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.