Property assessors working to finish reassessments

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.