Hunting Park: Bodegas and Bodyshops Revive The Economy of North 5th Street
Specks of sawdust shimmered in the sunlight as the shrill of power tools echoed throughout the skeleton of a body shop. The sight is no longer uncommon along the 5th Street Corridor of North Philadelphia, between Luzerne and Wyoming streets, but rather serves as evidence to the recent economic influx of Hunting Park. “I’ve been […]
Pennsport: Neighbors React to Actual Value Initiative
[vimeo 81139347] With the reassessment of property values due to the Actual Value Initiative, some lifelong residents are seeing their property taxes go up. Several assessments have tripled the property value, and some residents are worried they may have to leave their homes. The Actual Value Initiative (AVI) is a program which is supposed to […]
Pennsport: AVI Assessments Take a Toll on Homeowners
[vimeo 81167389] With the Actual Value Initiative (AVI) raising property taxes throughout the city, many Philadelphia homeowners are wondering exactly why and how this is happening. The main goal of AVI was supposed to be a reassessment of all the properties in the city at their current market value. The Actual Value Initiative reflects the […]
Axis Philly: AVI’s Actual Impact on the Chestnut Hill Real Estate Market
[vimeo 63924212] While some Philadelphians have been scrambling in the wake of the city’s property value reassessments under the Actual Value Initiative, some residents of Chestnut Hill who are selling their homes have had no problem doing so. Matt Paul recently sold his home on 263 E. Evergreen Ave. in Chestnut Hill. While he had difficulty […]
Axis Philly: Residents Think City Could Have Communicated Property Reassessments Better
Richard Shore has lived in Center City for the past 30 years. After Philadelphia issued its property value reassessments under the Actual Value Initiative last week, Shore has been notified that his property’s value has nearly quadrupled, going from $192,700 to $653,700, according to the Office of Property Assessment. This would put Shore in line for an increase […]