June 30, 2026
By Josh McKnight | The McKnight Team
Philadelphia homeowners are about to get new property assessments in the mail. These numbers will set your 2027 property tax bill. This is the city’s first full reassessment in more than two years, and most owners should expect their value to go up. If you own a home in Philadelphia, or you are thinking about buying one, this matters to your wallet. Here is what is happening and what you can do about it.
What the New Philadelphia Assessments Mean
The Office of Property Assessment is updating the value it puts on homes across Philadelphia. Your assessed value is what the city uses to figure your tax bill. When that number rises, your taxes usually rise with it. Most Philadelphia homeowners are expected to see higher valuations this round.
That tracks with where the market has gone. The median sale price in Philadelphia was $289,827 in May 2026, up 3.5 percent from a year earlier, according to Redfin. When homes sell for more, the city’s assessments tend to follow. So a higher number on your notice is not a shock. It reflects what buyers have been paying.
Higher does not always mean correct. The city values hundreds of thousands of homes at once, and mistakes happen. If your new value looks too high next to what similar homes near you have sold for, you have the right to push back.
How to Appeal or Lower Your Philadelphia Tax Bill
You have two paths if you think your assessment is wrong. The first is a free informal review with the Office of Property Assessment, called a first level review. The second is a formal appeal to the Board of Revision of Taxes. The deadline for formal appeals is October 5, so do not sit on it (source: PlanPhilly, June 2026).
There are also relief programs that can lower what you owe. The homestead exemption cuts $100,000 off your home’s taxable value, which is real money for most owners. The Longtime Owner Occupants Program, known as LOOP, caps how much your assessment can jump if you have owned your home for years. There are also freeze programs for seniors and lower-income residents that can lock in your tax amount going forward.
If you own in Philadelphia, check whether you already have the homestead exemption applied. Many owners qualify and never sign up. That one step can save you hundreds of dollars a year.
What This Means for You
If you own a home in Philadelphia, open that assessment notice when it comes. Do not toss it. Compare your new value to recent sales of homes like yours. If it looks off, start the review or appeal before the October 5 deadline, and make sure you are signed up for every relief program you qualify for. You can check recent sales and neighborhood detail on our Philadelphia community page.
If you are buying in Philadelphia, factor the new assessments into your math. The tax bill on a home may change for 2027, so what the seller pays today might not be what you pay next year. A good agent helps you estimate the real cost of owning, not just the list price.
Thinking about buying or selling in Philadelphia? Let’s talk.
Frequently Asked Questions
When will I get my new Philadelphia property assessment?
Philadelphia homeowners will receive updated assessment notices this year, and the new values will set your 2027 tax bill. This is the city’s first full reassessment in more than two years. Watch your mail and review the notice as soon as it arrives.
How do I appeal my property assessment in Philadelphia?
You can request a free informal first level review with the Office of Property Assessment, or file a formal appeal with the Board of Revision of Taxes. The deadline for formal appeals is October 5, 2026. Gather recent sales of similar nearby homes to support your case.
How can I lower my Philadelphia property taxes?
Start with the homestead exemption, which removes $100,000 from your home’s taxable value. Longtime owners may qualify for LOOP, and seniors or lower-income residents may qualify for tax freeze programs. Many owners miss these simply because they never apply.
Why did my Philadelphia home value go up?
Assessments follow the market, and Philadelphia home prices rose 3.5 percent year over year as of May 2026, per Redfin. When nearby homes sell for more, the city raises assessed values to match. A higher value is common, but you can appeal if it looks too high.
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