04.03.25
Rather than performing a City-wide revaluation, OPA will focus its efforts on reviewing and resolving the approximately 20,000 First Level Review applications received for Tax Year 2025. The Board of Revision of Taxes likewise received an estimated 11,000-12,000 assessment appeals for Tax Year 2025.
This means most property owners will not see an increase or change in their 2026 property taxes. That does not necessarily mean that owners will lack grounds to appeal their taxes for Tax Year 2026, as certain markets (e.g., office) continue to see increased vacancies and declining values that would not be accounted for in the City’s unchanged assessments. Further, the OPA’s announcement will not in any way impact the recertification of property assessments for new construction, new improvements or a change in lot lines.
Co-author Michael Phillips is a partner in the real estate tax and zoning and land use practice groups. Co-author Andrea Sálomon is an associate in the zoning and land use practice group.