GC Mid-Atlantic

Understanding the Basics of Philadelphia's New Actual Value Initiative

, The Legal Intelligencer


The city of Philadelphia's new property tax program is coming and your assessment is likely going up, but it is not all bad news. Still, commercial property owners and residential property owners alike need to understand the basics of the city's new Actual Value Initiative (AVI) and be prepared to take steps to ensure that they are assessed fairly.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to LexisAdvance®.

Continue to LexisAdvance®

Not a LexisAdvance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via LexisAdvance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

What's being said


    A fine overview.

    The "formal review" by the Board of Revision of Taxes (BRT) is actually a statutorily permitted Appeal (Philadelphia is still governed by the Old PA General Assesment Law and the law applicable to First Class Counties -and unaffected by the New Consolidated Assessment Law applicable to all PA counties but Phila. and Allegheny effective January 1, 2011).

    There is a a formal hearing before the BRT, presentation of evidence (usually in the form of an appraisal), cross examination of witnesses, etc.

    The "wlling buyer/willing seller" standard remains notwithstanding methodology used by the OPA to reach value. Commercial properties in particular must have all non business value removed from the FMV conclusion, enviromental damage impact considered, certain manufacturing exemptions reviewed, and the calculation of income to capitalize to value closely scrutinized.

    Finally, the Commonwealth Court has ruled in Westmoreland v.Rodgers and RTA that only an attorney may represent a taxpayer in a tax assessment appeal including before the Board's of Assessment in PA.

  • Roger

    What I have not seen from OPA or City Council etc, is what is acceptable "quantifiable evidence" particularly with rental properties. Are they only looking to comparable sales, a difficult comparison. Do they have some formula applying to net rental income and are they going to publish that? Other criteria?

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article #1202593687989

Thank you!

This article's comments will be reviewed.