Best Practices For Filing Your 2025 Philadelphia Tax Assessment

Every year, the City of Philadelphia’s Office of Property Assessment (OPA) issues property valuations which directly correlate to your real estate taxes. Some years, property assessments remain the same, but in 2023, many real estate owners saw a rise in the valuations of their properties, leading to significantly higher taxes. In March of this year, Mayor Parker announced that real estate tax revenue would grow by 8% from residential properties, meaning that owners of these properties should expect to see their property assessment, and their real estate tax bill, increase. That is where Nochumson P.C. comes in to help. 

If you receive a notice of a new property tax assessment or believe that your current assessment is inaccurate, we can help you to appeal it with the Board of Revision of Taxes (BRT). This process allows for a reevaluation of your property tax assessment to ensure that you pay a fair tax based on your property’s value.  

We regularly help clients reassess their properties, and recently saved a client, who owns a property on Frankford Avenue, a cumulative $75,000 in real estate taxes. In another tax assessment appeal, we were able to save the client almost $55,000 in real estate taxes!

How Do I Start a Philadelphia Property Tax Assessment Appeal?

To begin the appeal process, we can help you gather all of the necessary documents to file your tax assessment appeal. Although the release of the reassessments is behind schedule, the forms for filing a tax assessment appeal have been released. If you did not receive the forms from the OPA to request an appeal, please reach out to Alan Nochumson by email at alan.nochumson@nochumson.com or phone at (215) 600-2851.

What Should I Know About Philadelphia Property Tax Assessment Appeals?

Before you start the appeal process with the BRT, there are a few things you should keep in mind:

Prepare your documents

Property tax assessment appeals require a lot of documents, so you will need to have everything in order before you start your appeal. You will need the forms that the OPA sent you with your updated property tax assessment, or we can help you request new ones. You will also need documents containing details about the property so that the City can properly assess its value. This includes an appraisal, which must be professionally performed for properties assessed over $1 million. We have a portfolio of trusted appraisers who we can connect you with.

Be aware of the risks

Since property tax assessment appeals provide more information to the OPA than they currently have, there is a small chance that your property will be reassessed at an even higher value. If that happens, you will need to pay more in real estate taxes than you currently do. Before filing your appeal, it is important to weigh the risks and know that the process may result in an undesirable outcome. We can discuss the pros and cons of reassessing the value of your property with you, and can assist you with determining whether or not to go forward with a reassessment.

Know the different processes for different properties

A residential property that you own and live in is different from a commercial property or an investment property, and the OPA assesses properties differently depending on their use. These nuances are important to know going into the reassessment process, and we can walk you through them.

Plan Ahead

It does not matter when you get your property reassessment, appeals are all due on the same day. Be sure to plan ahead and have your appeal submitted by the first Monday in October (this year, it is October 7th, 2024) to prevent changes in your real estate taxes for the coming year. If you wait until after that date, your new property assessment will go into effect in the new year.

Find An Attorney

As a real estate owner, property tax assessment appeals are likely not part of your normal routine. They are, however, the bread and butter of real estate legal professionals. For appeals, you can help mitigate the risks when you tap into seasoned advice like ours. Our attorneys Alan Nochumson and Alex Goldberg regularly support clients in the entirety of the property tax assessment appeals process. It is difficult to know what you do not know, so enlisting us can help you navigate this sometimes complicated legal process.

When you bring in our advice on your property tax assessment appeals, the process becomes more straightforward and your options become clearer. As attorneys, we are here to help you make sure that you only pay the fairest possible taxes on your property, whether you are appealing for your own home or an investment property. 

Book a free, 15-minute consultation with Alan Nochumson to discuss your tax assessment appeal below, or reach out to him by email at alan.nochumson@nochumson.com or phone at (215) 600-2851.