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BRT May Remove Property Assessment Freeze

The tug-of-war continues. From the Inky, Members of the Board of Revision of Taxes (BRT) told City Council on April 20th that they may lift the property assessment freeze enacted by the mayor late last year.

The BRT wants to overhaul the city’s real estate assessment system that would generate new and in many cases radically different property values for every parcel in Philadelphia.  The assessment system would be called the Actual Value Initiative (AVI).  The BRT and Mayor’s Office both agree that eventually there should be a change to the property appraisal system. However, the Mayor’s Office has doubts on the accuracy and the amount of work to change the system today.  The BRT said it is confident in the accuracy of small residential properties; however they are less confident in commercial and larger residential properties.

One more thing the article mentions is that on May 18, voters are scheduled to approve or reject a charter that would abolish the BRT and replace it with two new entities.

My thoughts — if possible I think the BRT’s AVI would bring fairness to property assessments.  It is crazy how broken Philly’s tax scale is. For example NE Philly pays a lot more in property taxes and taxes shouldn’t increase.  On the other hand South Philly has had low property taxes, and this area could see an increase.

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April 21, 2010 - Posted by | Uncategorized | , ,

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