Report: AVI assessments ‘flawed,’ especially for lower-priced homes

avi
According to a report from the Crosstown Coalition of Taxpayers, many of these forms were returned to homeowners with “fundamentally flawed” figures. (Credit: Rikard Larma / Metro).

The Crosstown Coalition of Taxpayers, a group of 21 civic associations formed to address Philadelphia’s planned overhaul to the Actual Value Initiative of property tax assessments, announced on Tuesday the finalization of a report analyzing reassessment data calculated by the Office of Property Assessments for tax year 2014, when AVI is set to go into effect

According to the group, the report reveals the OPA’s valuation methods were “fundamentally flawed” and “fall far short of industry standards for accuracy.”

“The Crosstown Coalition of Taxpayers is in favor of the AVI goal of fair and accurate assessments, but must now reluctantly conclude that the job has not been well done,” CCoT’s Stephen Huntington said in a statement.

The Coalition in the report found that less expensive homes are overassessed, with homes whose sale prices are below $50,000 assessed at more than twice their market value.

The report claims multifamily properties, more expensive homes and large commercial buildings are overassessed, with the city’s two dozen largest office buildings being assessed at between 70 and 85 percent of their estimated market values.

Assessments on vacant land parcels that have been sold range from anywhere between 70 percent and 136 percent of their sale price, the group claims.

“Our analysis shows that the most expensive homes are assessed for less than their market value,” CCoT member Matt Ruben said in a statement.

“Homes selling for $50,000 are assessed at twice the market value. AVI is placing an unfair burden on the owners of lower-priced homes.”

Members of the Crosstown Coalition of Taxpayers will release the full report and discuss its findings in detail on Wednesday at City Hall, where they will be joined by City Council members Jim Kenney, Jannie Blackwell, Bill Green, Kenyatta Johnson and Mark Squilla.

The Council members will call on Mayor Michael Nutter to delay the implementation of AVI.

“I would like to thank the Crosstown Coalition of Taxpayers for its unbiased analysis of OPA’s data,” Squilla said in a statement.

“The report shows how much more work needs to be done before the assessments can be presented as fair and accurate.”

Data analysis chair Walt Spencer said the Coalition is willing to meet with the OPA to discuss the report, as well.

“If OPA can demonstrate that our findings are incorrect, we will publicly apologize,” Spencer said in a statement.

“However, if OPA cannot provide documentation to support its current assertions, I’m afraid that response will speak for itself.”



News
Entertainment
Sports
Lifestyle
National

Mutant worms stay sober, even on alcohol

U.S. researchers have developed "mutant worms" that do not get drunk by alcohol, a breakthrough that could lead to new treatment for people trying to quit drinking

Local

K-9 nose helps capture $150K in cocaine at…

A furry, four-legged security agent helped authorities stop an illegal cocaine shipment from sneaking past JFK customs.

National

Minnesota man asked to leave Southwest flight after…

A man and his two sons were asked to leave a Southwest Airlines flight after the man sent a tweet complaining about being treated rudely by a gate agent.

National

Man sues hospital after surprise penis amputation

An Alabama man who went in to a hospital last month for a circumcision awoke after surgery to find his penis had been amputated, his lawyer said on Thursday.

Movies

Review: Brett Ratner's big 'Hercules' movie is small…

The latest "Hercules," starring Dwayne Johnson as the half-god beefcake of Greek myth, strips its hero and tale of most of its fantastical elements.

Arts

Scientists recreate world's smallest Monet copy

Scientists have reproduced a famous Impressionist painting using nano-printing, to create what has been described as the world's smallest work of art. Reworked at the…

Television

Jerry Seinfeld is ambidextrous, and other Reddit AMA…

See some of the weirder highlights of Jerry Seinfeld's recent Reddit AMA.

Going Out

Grab a pedestrian and start dancing at What…

As a New Yorker, I’ve mastered the art of focusing my gaze straight ahead. Though it occasionally piques my interest, the absurdities that play out…

U.S. Soccer

Orlando City takes shot at NYCFC over Frank…

Orlando City reminded the world how big a signing Brazilian star Kaka earlier this month with a photo of Kaka mobbed by fans juxtaposed against Lampard.

NBA

Jeremy Lin says 'Linsanity' is over as he…

Jeremy Lin lit up the NBA two years ago with his play for the Knicks but he has no desire to recreate "Linsanity" in his new career with the Lakers.

NFL

2014 NFL Fantasy Football Top 100 overall player…

2014 NFL Fantasy Football Top 100 overall player rankings

U.S. Soccer

NYCFC announce signing of Frank Lampard

The tease of a big signing Thursday by new MLS side NYCFC ended up being one rumored for weeks. England midfielder Frank Lampard agreed to…

Tech

Forget Wi-Fi: Li-Fi could be the future

Li-Fi technology – developed by Mexican company Sisoft – is wireless internet connectivity using specialized LED light.

Tech

Weather app Climendo might be the most accurate…

The wait for a truly accurate weather forecast could finally be over thanks to a nifty new app called Climendo.

Tech

Napkin Table puts focus off the phone and…

Michael Jan, a design student at Tunghai University in Taiwan, has invented a serviette-picnic blanket hybrid called the Napkin Table.

Style

Essie's new Color Boutique

Essie launches high-tech kiosks at major airports and malls across the country.