Philadelphia Delinquent Tax Epidemic
Philadelphia Delinquent Tax Epidemic
After years of bad governance and absolutely pathetic collection efforts (play with the map – someone owes over 6 million in back taxes to the City of Philadelphia) the property tax delinquency has become an epidemic of ridiculous proportions.
Currently approximately 111,000 tax delinquent accounts exist in the city, which accounts for one out of every five properties. In total, the city is owed $472 million in back taxes.
In Philadelphia, a property is considered tax delinquent nine months after the city’s March 31 payment deadline passes. Delinquent parcels are assessed interest and fees, which over time can grow larger than the principal. By law, properties can be sold at public auction as quickly as nine months after they become delinquent. In practice, that rarely happens, and many properties are allowed to linger on the delinquency rolls for decades.
Click on this link to play with the Philadelphia Delinquent Tax Map
To search Philadelphia Real Estate listings for condos, homes and apartments click here.
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
www.CenterCityTeam.com
