Philadelphia AVI Update!

As you know the AVI Actual value Initiative affects the value of homes and is the basis for our real estate taxes. GPAR has and is continuing to work with City Council on various pieces of legislation that would protect homeowners from tremendous increases in their real estate taxes.

The link below will show 3 forms for you to distribute to your clients who may need some form of relief of the tax burden:

1.     Senior Tax Freeze (filing deadline January 31, 2014) – Your real estate taxes are “frozen” at the 2013 amount. To be eligible, you must be low income (less than $23, 500 in annual income if single; $31,500 if married) and over 65 (or be a widow/widower over 50 whose deceased spouse was over 65).

2.     Homestead Exemptions (filing deadline September 13, 2013) – $30,000 is deducted from the assessment from owner-occupied residences. Applications were sent to all homeowners late 2012. You can check to see if you have applied by visiting: http://avicalculator.phila.gov  type in your address and under Property Information, verify that “YES” is under Homestead. If “NO” then complete attached form.

3.     BRT Appeal – (filing deadline October 7, 2013) – If you believe that the assessment is truly inaccurate as determined by the OPA (office of Property Assessment) you can appeal to the Board of Revision of Taxes. While on appeal, you will pay your real estate taxes at the 2013 rate with no interest and penalty accruing until the BRT rules on your case.

Click on this link to find forms. http://gpar.org/images/uploads/tax_assessment_application_201308291427.pdf

For more info contact Jim Onesti. 215.440.2052 or jonesti@mccannteam.com

*Info courtesy of GPAR*

 

Incredible Development Opportunity!

2 story shell with approvals for a rear two story addition, 3rd story addition, AND a roof deck!
Run the numbers…this deal works!
Surrounded by new construction all around!
Walk to Graduate, Rittenhouse, Center City, Broad Street and so much more!

1846 Reed in rapidly developing Point breeze Area. Listed at just $78k! Won’t Last!

For more information or to make your offer today contact Jim Onesti. 215.440.2052 or jonesti@mccannteam.com

New This Week in Philadelphia…

The median list price in Philadelphia this week is $189,900.

The Market Action index has been trending down lately, while days-on-market is climbing,
providing mostly bearish signs for the market.

Publication2

For this weeks summary report CLICK HERE!

For this weeks update report CLICK HERE!

For more information or to sign up to have these reports sent directly to your inbox, contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com