Around the Block: 9/16/2022

September 19, 2022 BY JEFF CITY BLOCK

Philly tax appeals, our new and current listings, and Philly happenings. If you’d like to discuss real estate or anything in this newsletter please send me an email: [email protected]. This edition of Around the Block was originally published on Saturday, 9/17/22.

9/16/2022

Relevant Commentary, all information Philly (real estate and otherwise), Open Houses, Listings, Happenings, and More — by Jeff “City” Block

Philly Tax Appeals

THE DEADLINE IS NIGH (but also extended!!)

A concise yet really important ATB today.

As most of you know (and as I wrote about here, here, here, here, here, and here), Philly just conducted its first property tax reassessment since prior to the pandemic (for 2023 property taxes). And the AVERAGE property tax assessment went up 31%. This actually makes sense considering Philly values have gone up so much over the past several years and Philly tended to under-assess homes (many but not all) in previous assessments. Nevertheless, some homeowners may now be over-assessed, or their assessments may not be in line with others around the city. Or you may just want to appeal because your assessment went up a lot and you want to pay less. And while this is not an actual ground for appeal, if you can provide evidence that your home is overvalued or not uniform with other comparable city homes, you still may win.

You have two options for appeal. A First Level Review (FLR) with the Office of Property Assessment (OPA) and a formal appeal with the Board of Revision of Taxes (BRT).

The OPA just extended the FLR deadline from 9/30 to 10/14/2022. The formal appeal deadline remains on 10/3/2022. You can actually file both options concurrently, so long as you meet each individual deadline. That gives you two bites at the apple.

Information on filing for a First Level Review by 10/14 can be found here. Information on filing a formal appeal with the BRT can be found here.

So practically speaking, you have three options. File an FLR by 10/14. File a full appeal by 10/3. Or file both at the same time by their respective deadlines. And if you receive a satisfactory result from one, simply withdraw the other.

You will almost definitely want to hire an appraiser for any appeal. And perhaps an attorney.

And don’t forget, whether you plan to appeal or not, make sure that you have the 2023, $80,000 Homestead Exemption applied to your property. Let me know if you are unsure, and I will look it up and let you know. The Homestead Exemption will save Philly homeowners $1,120/year starting in 2023 and if you don’t already have it, the application deadline is 12/1/2022. Information and application can be found here. And remember homeowners are not eligible for the Homestead if they currently have a tax abatement or participate in LOOP.

Please email me if you have any questions regarding tax appeals or any other matter (like if you or any friends or family need to buy or sell a house, for example 😊).

I hope you have a great weekend.

Warm regards,

Jeff

Spotlight Property

4601 Springfield Avenue

New Listing

6 BD | 2.5 BA | 3,036 SF | Original Victorian Details | Third Floor Balcony | Large Back Yard | $499,000

Rare opportunity: this 3036 s.f., 3-story twin in the Cedar Park section of University City, West Philly, is available for your complete rehab. It’s on a wide lot at the corner of 46th St. & Springfield Ave., in the catchment area for the popular Penn Alexander K-8 public grade school.*

So many of its original 1892 Victorian details remain: oak flooring with decorative borders, period woodwork and pocket doors, a dining room built-in corner cabinet, 3 decorative fireplaces with ornate mantles, the handsome original staircase for all three floors, impressively large mirrors (one gilded), leaded glass – and even a newel post statue. A third floor balcony overlooks Springfield Ave. and there’s a large back yard.

The location is excellent – just a block from Baltimore Ave., University City’s “main street,” with eclectic shops and restaurants serving many different cuisines. Clark Park is 2 blocks away, and a short walk takes you to USciences and/or UPenn. The #34 trolley at the Baltimore Ave. corner will whisk you to center city in 15 minutes, with stops along the way at UPenn, Drexel, and the 30th St. transportation hub in case you want to catch a train.

Step carefully during your visit! There are some damaged floor areas. The electricity is on, but water and sewer were turned off years ago and won’t be turned back on for this as-is, cash, sale. (*Catchment address doesn’t guarantee admittance to Penn Alexander.)

View full listing here

Philly Fun This Week

Rittenhouse Art Show, Shopping, and Markets

Last Friday was the opening of a brand new art shop called Baby Tooth, located in the Bok Building. This shop was created by the organizer of the Feminist Flea Market & Craft Fair, Zissel Aronow (aka House Cat) and features a selection of jewelry, clothing, art, textiles, and more made and sold by female-identifying creators. Proceeds benefit the mutual aid initiative, Homies Helping Homies, which focuses on the distribution of household items and food in neglected Black communities.
Last week brought the return of Shop Center City Saturdays taking place on September 24th and October 1st. The highlighted locations this year include Market East, Rittenhouse Row, The Avenue of the Arts, and Midtown Village.

Photograph from centercityphila.org & content courtesy of thephiladelphiacitizen.org.

New Restaurant Location

The popular Philly sports bar Cavanaugh’s Rittenhouse just opened a new location on Samson Street. Get all the usual classic bar foods such as burgers, mac and cheese, and wings while watching your favorite sports teams.

Photograph from cavsrittenhouse.com & content courtesy of uwishunu.

Featured Listings

4601 Springfield Avenue NEW LISTING University City 6 Bed \| 2.5 Bath $499,000	7111 Germantown Avenue Mount Airy New Construction $340,000 – $1,200,000
349 S 47th Street #A310 COMING SOON University City 2 Bed \| 2 Bath $325,000	5038 Spruce Street NEW PRICE University City 4 Units $845,000
706 S Bancroft Street Graduate Neighborhood 3 Bed \| 2.5 Bath $635,000	4928 Pine Street University City Duplex $489,000
742 Lombard Street Society Hill 3 Bed \| 2 Bath $725,000	4614 Paschall Avenue University City 4 Bed \| 4.5 Bath $650,000
403 S 42nd Street University City 6 Units $725,000	4627 Paschall Avenue University City 3 Bed \| 1.5 Bath $1,200,000
1324 Locust Street #1517 Avenue of the Arts South Studio \| 1 Bath $105,000	4115 Salem Street NEW PRICE Frankford – Philadelphia 3 Bed \| 1 Bath $79,900

Know Someone Looking to Buy or Sell?

As always, please know that I’m humbled by and appreciative of your introductions and referrals. If you have a friend, colleague, or family member that is in need of Expert Real Estate Representation, please have them contact me.

Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.

Some imagery in this e-newsletter was sourced via UWISHUNU, centercityphila.org, cavsrittenhouse.com, and Canva.

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