Thursday, February 11, 2016

Property assessors working to finish reassessments

There's a good chance city property assessors have already given your home a once-over as part of the massive reassessment effort underway.

Property assessors working to finish reassessments

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So there's a good chance city property assessors have already given your home a once-over as part of the massive reassessment effort underway.

Chief Property Assessor Richie McKeithen today told the Pennsylvania Intergovernmental Cooperation Authority that the city is about 70 percent through the daunting job of re-evaluating the city's 450,000 residential properties. The reassessment process is part of moving to a system that uses market values as the basis for property tax bills, rather than the current system, which is based on "fractional" assessments.

McKeithen said his team has noticed a lot of new construction that may not have been on the books before, but he said he couldn't yet tally the new construction, tear-downs or renovations. He said they expect to complete field work within the next two months and are on track to send out new assessment notices by October.

Asked about how people feel about the process, McKeithen said "most of the people we talk to are not worried about the assessment, it's about what am I going to pay in taxes."

The Nutter administration has drawn criticism for planning to bring in more revenue in the next budget year through the shift to the new property tax system. They expect $90 million in additional revenue, all of which will go to the school district. Critics call it a back door tax hike, while Mayor Nutter says the city is simply capturing the increase in property values.

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William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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