The Inquirer had part one of this series last week and it was mentioned in this post. Part 2 today looks at the city of Philadelphia.
Real-Estate Roulette
Philadelphia’s ‘unbelievable’ assessments confound property owners with wildly inequitable taxes.
By Anthony R. Wood and Dylan Purcell
Inquirer Staff Writers
Of the 400,000 homeowners in Philadelphia, only 3 percent receive property-tax bills based on the true value of their real estate.
For the remaining 387,000, the amounts they are charged are wrong, and often wildly so - derived from assessments that, on average, are 39 percent off the mark, according to an analysis by The Inquirer.
The appraisals border on the randomness of Ping-Pong balls popped from a lottery machine, with winners and losers. [More at philly.com website]
Sunday, June 22, 2008
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