Service overview
If your property is damaged by a fire or other natural disaster, you may qualify for a reduced property assessment. The reduced assessment will result in a credit for the next tax year. To qualify, the damage must result in a decrease of 50% or more in the property’s value.
To determine a property’s new value, the Office of Property Assessment (OPA):
- Multiplies the previous assessed value of the property by the percentage of the tax year before the catastrophic loss.
- Multiplies the value of the property after the loss by the percentage of the tax year remaining.
- Adds these two numbers to get the new market value.
Requirements
You must apply within one of two time periods, whichever is longer:
- In the fiscal year of the catastrophic loss (July 1 to June 30).
- Within six months of the date of the catastrophic loss.
How
Complete a catastrophic loss application and submit it to the OPA by mail.
Office of Property Assessment
601 Walnut St., Suite 300 W.
Philadelphia, PA 19106