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Philadelphia's commercial reassessment yields $118 million in new tax revenue

from Philadelphia Inquirer

Commercial property owners could be in for some sticker shock when they receive the city's new property assessments in mid-April. The taxable portion of the assessed value of Philadelphia's 60,000 commercial, industrial and hotel buildings, as well as other nonresidential properties, went up by 50 percent — from $30.23 billion to $45.3 billion — with the reassessments. more

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