News and Insights

Philadelphia Announces Fiscal Budget and Real Estate Reassessment for Tax Year 2023

Tax Development Apr 22, 2022

Philadelphia Announces Fiscal Budget and Real Estate Reassessment for Tax Year 2023

The city of Philadelphia is expected to begin issuing 2023 real estate tax assessment values later this month, after pausing the practice from 2020 to 2022 because of disruptions from the pandemic. Mayor Jim Kenney recently released his budget proposal to City Council, stating there would be no tax rate increase, yet he expects a 4.5% increase in property tax revenue as a result of the reassessment of underlying property values. City Council has stated it will be watching the rollout of the new reassessments to ensure fair and accurate data utilization for property owners. 

The local property tax experts in Ryan’s Philadelphia office are continually monitoring the city website for the new values. The Ryan team is available to work with property owners on a comprehensive range of proactive strategies designed to address the reassessment and implement tax mitigation strategies. If you would like to learn more about how Ryan can assist you, please contact one of our local offices today.


Kurt Lieberman

Renee Bell

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