Philadelphia released its 2027 property assessments this week, with Mayor Cherelle Parker’s administration mailing notices citywide and posting valuations online.
The reassessment will lift the median homeowner’s property tax bill by $97 next year and sets the basis for payments due in March 2027.
City Releases 2027 Reassessments and Tax Outlook
New valuations are being mailed and can be reviewed online, with officials expanding outreach about tax relief options.
A consultant has been engaged to review the methodology that produced this year’s figures.
Earlier coverage of the median homeowner property tax increase of $97 in 2027 outlines the scale of change.
Valuation Shifts and Available Relief Programs
The city’s Homestead Exemption reduces an eligible owner-occupant’s assessment by $100,000, cutting taxes by up to $1,399 a year.
Additional programs include a senior citizen tax freeze, a low-income real estate tax freeze, and the Longtime Owner Occupants Program that caps assessment-driven increases for eligible residents.
The new reassessment follows 2024, when overall residential values rose 19% and the average homeowner paid about $330 more.
2027 property taxes are due March 31st, 2027.
Rental Operations: Budgeting, Leasing, and Cost Recovery
Higher assessments can raise carrying costs for non-exempt rental assets, affecting operating budgets and cash reserves.
Where leases allow, property taxes may flow through to tenants under triple-net or modified gross structures, influencing renewal pricing and concession strategies as operators balance expense recovery with leasing velocity.
Managers may also adjust tax escrows and time discretionary maintenance to maintain liquidity through the March billing cycle.
U&O Tax Shift for Cell Towers Changes Cost Calculations
Beginning January 1st, 2027, the changes to how the Use and Occupancy Tax for cell towers will be calculated beginning January 1st, 2027 move the basis to the tower’s assessed value only.
U&O for towers will equal assessed value multiplied by 1.21%, with the Office of Property Assessment setting the values, and the change is expected to generate approximately $2.4 million annually for schools.
Owners with rooftop or ground leases may see adjustments to license fees or pass-throughs tied to the new calculation.
Appeals, Deadlines, and Cash-Flow Timing
Owners can file an informal First Level Review with OPA by September 1st and a formal appeal with the Board of Revision of Taxes by October 5th.
Appeals can take a year or two to complete, and taxes are owed on the current year’s assessment while cases are pending.
Context on the two options to appeal a property assessment frames how operators plan payments and reserves against potential adjustments.