It's the first question every Philadelphia homeowner asks: if I appeal my property taxes, what do I actually get back? The honest answer isn't a headline number — it's a formula. Once you know the arithmetic, you can compute your own savings from your own assessment, without anyone inventing a figure for you.
Philadelphia taxes real estate at a single rate: roughly 1.4% of your assessed (market) value — 1.3998%, to be exact. Your annual tax bill is essentially that rate multiplied by the value the Office of Property Assessment (OPA) has placed on your home. If you want the mechanics behind that number, our how-taxes-are-calculated guide walks through it in full.
Because the rate is fixed, an appeal doesn't change the rate — it changes the value the rate is applied to. Win a reduction in your assessed value and your saving is simply:
Annual saving ≈ (reduction in assessed value) × ~1.4%
That's the entire model. To make it concrete: a $50,000 reduction in assessed value works out to roughly $700 a year. Treat that strictly as an illustration of applying the rate — it is arithmetic, not a promised or typical result. Your reduction might be larger, smaller, or zero. What matters is that once you know your own reduction, you multiply by about 1.4% and you have your own answer.
A property tax appeal isn't a one-time refund. When your assessed value is lowered, that lower value stays on the books until the City's next citywide reassessment. So the same annual saving recurs every year you hold the property at that value.
That changes the picture entirely. A $700-a-year illustration is $700 this year — but if the value holds for several years before the next reassessment, you multiply by the years you stay. The right way to weigh an appeal is not one year's number but the cumulative figure over your expected holding period. Small annual differences compound into real money the longer you own.
If the home is your primary residence, there's a second lever that works independently of any appeal: the Homestead Exemption. It reduces the taxable value of your home before the rate is applied, lowering your bill on its own.
The two are stackable. A successful appeal lowers the assessed value; the Homestead Exemption then subtracts from that already-lower figure before the ~1.4% rate is applied. An owner-occupant should be using both — the appeal fixes an over-valuation, and the exemption is a standing benefit you're entitled to regardless. Confirm the current-year exemption amount at phila.gov, since the City adjusts it over time.
Here's what most pitches won't tell you. Your saving is only as large as your over-assessment — the gap between your assessed value and what genuinely comparable homes have actually sold for. If that gap is big, the recurring saving can be substantial. If it's small, or if your home is assessed fairly, an appeal may save little or nothing and might not be worth filing at all.
There is no average saving we can honestly quote you, and no success rate that applies to your specific parcel — those depend entirely on your home's numbers. That's the whole reason to check the evidence first. Our self-check walkthrough shows how to compare your assessment against recorded sales, and our note on success rates explains why a real verdict beats a blanket promise.
If the math points to a real over-assessment, Philadelphia gives you two tracks. You can start with a First Level Review — an informal request that OPA reconsider, using the form and deadline on your annual notice — or file a formal appeal to the Board of Revision of Taxes. The formal BRT deadline is generally the first Monday in October of the year before the tax year; always confirm the current-year date on your notice or at phila.gov. No lawyer is required for either path. A reduction won there is what flows back into the ~1.4% formula, year after year.
The formula is simple; the hard part is knowing your real reduction before you spend a day on paperwork. TaxAssessmentIQ pulls your live OPA record, finds the recorded comparable sales that actually exist near you, and tells you whether — and by roughly how much — your home looks over-assessed. If the gap is worth appealing, it generates a BRT-ready packet. If it isn't, it says so, for free, before you pay anything.
Your annual tax is roughly your assessed (market) value times 1.3998% — about 1.4%. So the annual saving from a successful appeal is roughly the reduction in assessed value times that same rate. Cut the assessed value by any amount and multiply by about 1.4% to see the yearly effect. Confirm the current-year rate at phila.gov.
It repeats. A lower assessment stays in place until the next citywide reassessment, so the same annual saving recurs each year you hold the property at that value. To gauge the full value of an appeal, multiply the yearly figure by the number of years you expect to own before the next reassessment.
The Homestead Exemption reduces the taxable value of your primary residence before the rate is applied, which lowers your bill on its own. It stacks with a successful appeal: an appeal lowers the assessed value, and the exemption then subtracts from that lower figure. They are separate levers, and an owner-occupant can use both. Confirm current-year exemption amounts at phila.gov.
No. Savings exist only to the extent a specific property is assessed above what comparable homes actually sold for. Some assessments are fair or even low, in which case an appeal saves nothing and may not be worth filing. That is exactly why TaxAssessmentIQ gives a free verdict from the City's recorded sales before you decide, rather than promising a result.
The formal Board of Revision of Taxes appeal deadline is generally the first Monday in October of the year before the tax year, and the First Level Review deadline is printed on your annual assessment notice. Confirm the exact current-year dates on your notice or at phila.gov before you file.
TaxAssessmentIQ gives you a free, honest verdict from the City's own recorded sales — just enter your address, no sign-up and no account. If your home looks over-assessed, you can get a ready-to-file appeal packet for a flat, one-time price, backed by a money-back guarantee. If it isn't worth filing, we tell you that too — for free, before you pay anything.