Home Buying in Grays Ferry>Question Details

Coy, Home Buyer in Grays Ferry, Philade...

Looking for a rough order of taxes on homes in the Grey's Ferry area. A range is fine or the worst case is okay also.

Asked by Coy, Grays Ferry, Philadelphia, PA Wed Apr 21, 2010

I can't seem to find info on real estate taxes.
Responses of "contact me" will not be answered.
Interested in a range or a top or a median value.

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Answers

1
Robert Peronne’s answer
In Philadelphia the property tax rate is .0826 x the assessed value. Assessed values are determined by the Board of Revision of Taxes (BRT). Values are reassessed whenever the BRT decides to reassess any particular area. The price you pay for the property has no direct relation to the property taxes that you pay. See the link below. You can look up the assessed value and taxes for any address in the city on the BRT site. Typical taxes for a single row home in Grays Ferry run from $300 to $600/yr but you really need to look up the particular property you are looking at.

If you are looking at a new or rehabbed property it may have a tax abatement. Tax abatements run for 10 years. When you look up the property on the BRT site you will notice an exempt amount on the property information sheet. If you would like to know more about abatements go to my site at ; http://www.phillycondo411.com/tax-abatement-info/ Also the BRT site has some detailed explanations of exactly how abatements and the abatement procedure work.

Ther is also an appeal process if the taxes have been incorrectly assessed BUT hold on. The BRT is in the process of being abolished and replaced by a new property tax department in the City. Eveything will change.

There is also a long standing proposal to shift all taxes to a new market price based system. They haven't figured out how or when that will be implemented.

Right now in City Council there is a debate going on to raise property taxes. The City needs money and property taxes will almost certainly go up but by how much?
Web Reference: http://brtweb.phila.gov/
0 votes Thank Flag Link Tue Apr 27, 2010
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