Firm Attorney David Fineman to Moderate LAI Panel Discussion on Philadelphia’s Actual Value Initiative: Was the Cure Worse than the Disease?

When: Tue, April 30, 2019

8:00 AM – 10:00 AM EDT

Where:
Pipeline Philadelphia Coworking and Shared Offices
30 South 15th Street
#15th floor
Philadelphia, PA 19102

Join past Vice-Chair of Board of Revisions and Taxes, City of Philadelphia Harvey Levin and former Director of Assessments and Member of the Philadelphia BRT Gene Davey. Moderated by David Fineman

For decades, Philadelphia’s real property tax assessment system was mired in an archaic, partial value assessment system. Widely considered to foster the uneven, non-uniform valuation of properties throughout the City, AVI, when implemented in 2014, was heralded as a new, rational, and modern tax assessment system.

Some five years later, it has become clear that AVI, while addressing some issues, has ushered in a new-set of problems. CAMA, the computer modeling system underlying AVI, on which the annual assessments are based, appears to have systemic flaws.

Further, a lack of uniformity persists in valuations of similar properties within and between neighborhoods. Recently, the OPA has been re-allocating actual value on abated properties by increasing land value, undermining the purpose of the program. Spot assessing, initiated by the school district, has further impacted the program.
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