Philly residential property values increased 31% in a new citywide reassessment. Council isn’t happy.

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Daily News | Philly residential property values increased 31% in a new citywide reassessment. Council isn’t happy.

Hot day in row house Philadelphia. Photograph showing a section of Harrowgate neighborhood looking toward Center City. Philadelphia and region are expecting another day of high temperatures, Tuesday, June 29, 2021.

It is too early, however, to say whether the reassessment — the first since the city implemented its new― is flawed, as some members suggested Monday. Despite allowing residents to look up properties online, the administration has not yet released parcel-level data for the entire city, making it impossible to analyze the reassessment overall.

Council members on Monday did not dig deep into Kenney’s proposal to use new revenue generated by the reassessment in part to lower the city’s wage tax, rather than lowering the property tax rate. But that debate will take center stage as lawmakers negotiate with the administration ahead of the June 30 deadline to adopt a new budget.

, while mayoral administrations have worked to fix a system that has long been criticized as highly inaccurate and unfair.Philly delayed property assessments for three years. Now residential values are jumping 31%. Property taxes fund a smaller portion of the city budget than they do in other big municipalities thanks primarily to the city’s reliance on the wage tax. The city also has an unusually high number of low-income residents who are homeowners, although renters are making up an increasingly large part of the city population in recent years.

 

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City Council should be upset with themselves for making excuses for people who commit Violent Crimes! Zero Consequences in Philadelphia! They should be happy with the increase in Property Value with all of the spike in violence! 🤦🏽‍♂️

For the privilege of paying increased property taxes I'll still get my trash picked up. In the winter I don't get my street plowed, there's no PPD presence & abandoned cars sit for years in my neighborhood. Make due with what we offer you and you'll suffer less than you deserve.

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