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New2phl, Home Buyer in not yet

Which 3 neighborhoods in Philly have the highest property taxes?

Asked by New2phl, not yet Wed Mar 4, 2009

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All of Philadelphia has the same tax rate. That varies widely in the suburbs. The two issues in the city are when was the last time the property was assessed and what is the value. Historically the highest values are rittenhouse square, society hill, Washington square and parts of chestnut hill. If you buy new construction however the taxes are almost "free". I just sold my house which had taxes of 7500. I bought something of greater value and pay 600/yr in property taxes for the next 10 years.
If you mean the Philly region, new construction in bucks and Delaware county are high. The lower suburban areas are in montco - like trdiffin Easton.
0 votes Thank Flag Link Thu Jan 27, 2011
Neighborhoods, even blocks within neighborhoods, that have the highest taxes are the ones with the most sales at the highest prices, the least number of properties with very long term owners, and the least number of distressed properties. Properties that are selling for the same price may have quite different taxes at the time that you buy. If you find a property that is newly renovated with low taxes you can expect them to go up. If you find a property with a tax abatement, you are only paying tax on the land typically a small % of the actual tax, for the term of the abatement.
0 votes Thank Flag Link Wed Sep 9, 2009
Somers -

I was curious and hoped that some of the agents who post here might have more concrete answers for me, knowing that they have been in the business long enough to see more properties than I have in about a year's time. Having looked at comparable houses in a few different neighborhoods I was really surprised to see a jump from about 2500/yr up in the art museum area to over 5000/yr in society hill when rittenhouse sq hovered around 3500.
0 votes Thank Flag Link Wed Mar 4, 2009
The Somers have given you a good answer. If you are looking to buy in the city , there are many areas with new construction with a ten year tax abatement and in the resales you get abatement for the remainder of the period.
Web Reference: http://www.gitabantwal.com
0 votes Thank Flag Link Wed Mar 4, 2009
I am going to take a guess: Society Hill, Rittenhouse Square, and The Queen Village and Old City Riverside locations. I would also guess that the properties closet to the boarder of the counties (Bucks and Montgomery for example) would have higher proprty taxes as well.

The older more estblished and of course high-end properties are going to have the higher taxes but some of the rehabed condos and new consution properties in the city do have the 10 year tax abatements.

Why do you ask?
0 votes Thank Flag Link Wed Mar 4, 2009
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