Developing Philly: The State of Philadelphia's Tax Abatements in 2022

Business Better

English - June 07, 2022 12:50 - 26 minutes - 16.7 MB
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Our new mini, “Developing Philly,” will explore issues that are top-of-mind for developers, owners, and commercial investors throughout the Philadelphia region. We’ll focus on zoning and land use regulations, development concerns, impending tax laws, and other pressing topics.

In this first episode, we discuss the 2022 changes to the City of Philadelphia’s commercial and residential tax abatements. Those changes mean that the abatement for commercial developments, including Mixed-use condominiums, now is more valuable than the abatement for residential projects. We discuss questions related to the new rules and how the City’s Office of Property assessment answered some of those questions via regulation.

Participating in this discussion is Christopher Jones, Of Counsel in Ballard’s Philadelphia office, and Nathan Farris, an Associate in Ballard’s Philadelphia office.