Following Philadelphians' vote to eliminate the Board of Revision of Taxes (BRT), a move that paved the way for an overhaul of the city's tax assessment and appeals process, The Philadelphia Inquirer looks to Ballard Spahr Real Estate Chair Michael Sklaroff for analysis. Mr. Sklaroff says it was hard to imagine a more challenging task than creating a fair system for assessing properties in Philadelphia. Still, he expressed optimism. "If there is a political will, this can be done effectively. Mayor Nutter seems to have the courage to set this right."
Barring a legal challenge, the BRT will be abolished in October. Moving forward, properties will be assessed based on estimated market value rather than the BRT's method, described by the Inquirer as "vague" and "random." In the end, Mr. Sklaroff says, repairing the city's property tax system can help it meet three vital goals: more jobs, a stronger tax base, and more residents to share the burden.