Philadelphia Mayor, City Council Seek to Offset Property Tax Increases

As property prices have soared across the country over the past two years, property tax reassessments have been slow to catch up. The City of Philadelphia just completed its property reassessments for the first time since the pandemic began. The reassessments are notable for a number of reasons. First, the reassessments represent the City’s first use of a new system that is meant to help modernize property valuation in the hopes of creating a more equitable and consistent system. The new approach utilizes a Computer Assisted Mass Appraisal (CAMA) system.  It is hoped that the CAMA system will reduce some disparities that existed between comparable properties under the antiquated system.

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By Jennifer W. Karpchuk