Under Philadelphia’s latest property assessments released earlier this month, valuations are rising most rapidly in low-income neighborhoods in West Philadelphia that are near rapidly gentrifying areas, continuing a pattern of assessment spikes in Philadelphia’s Black and brown neighborhoods. Experts say a complex set of factors, including redlining, gentrification and questionable government decision-making, has contributed to systemically biased valuations. The latest citywide revaluation of all properties, released Aug. 7 and the first since 2022, will be used to calculate 2025 property tax bills. An Inquirer analysis of those 2025 values found that property values increased most in heavily gentrified, working-class neighborhoods of color, and a 2022 Inquirer analysis found that the city’s assessments are systemically inaccurate and overassess properties in Black neighborhoods. Researchers at Community Legal Services and the Reinvestment Fund, a community investment nonprofit, found similar trends in a report earlier this year. Philadelphia’s Office of Property Assessments is working with experts to improve fairness and accuracy, said James Aros Jr., the city’s chief assessor. Read more in the Inquirer.
Source: Philadelphia Inquirer; 8/17/2024