Philadelphia County, PA — Property Tax Underwriting Guide
Pennsylvania · Annual market review
What this means for multifamily underwriting
Philadelphia's combined city + school tax rate (~1.40% of market value) is among the lower effective rates for a major urban multifamily market. Verify whether the subject property has a tax abatement and its expiration date.
Transaction type breakdown
Philadelphia implemented the Actual Value Initiative (AVI) in 2014, moving to assessment at 100% of market value. Sale prices are strong market evidence and the city's Office of Property Assessment commonly updates assessments toward sale prices.
Refinance does not affect assessed value.
Ownership transfer is market evidence; OPA commonly updates assessed values toward sale prices at the next annual review.
Tax appeal information
14.0 mill (1.4% effective) reflects the approximate combined city and school rate on market value.
Guide review
County guidance last reviewed: June 15, 2026
Tax-rate scope: Tax-rate scope is not established as parcel-specific; confirm the parcel's taxing-authority stack.
Official sources: Philadelphia OPA
Post-AVI annual-market model is well established; millage reflects the combined city+school rate.
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Philadelphia County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Philadelphia County deal.