10 Top Taxpaying Properties in Philadelphia - CommercialCafe (2024)

Philadelphia: birthplace of America, heart of the Delaware Valley and Pennsylvania’s largest city. Although no Philadelphia properties made it onto our list of top 100 taxpaying properties in the U.S., the region’s historic and economic importance makes it well worth a look.A report released last year by the Delaware Regional Valley Planning Commission shows Philadelphia to be the sixth-most diverse economy in the country—one that investors are certainly not shying away from. We combed through PropertyShark data and county public records and put together a list of the top 10 taxpaying properties in the city.

Chicago-based Equity Commonwealth has three Philadelphia properties listed in its Class A portfolio. Two of these—Center Square and 1735 Market — take up the first and second spots in our top 10 and the property taxes they commanded last year amounted to just over $6.7 million. Pennsylvania-based Brandywine Realty Trust’s national portfolio boasts 10 Philadelphia office properties, three of which are among Philly’s top 10 taxpaying properties, together commanding$7 million in property taxes in 2016 (spots 5, 6 and 9).

Of course, the property tax landscape would be different if we had not left out the non-taxpaying properties that we came across during our research. For instance, we would be looking at a different property in the number one spot—the Comcast Center was built in 2008 and received a 10-year tax abatement. Once that expires, the building towering above John F. Kennedy Boulevard would command an estimated $4.7 million in 2018 property taxes.

Mapping out Philly’s top 10 taxpaying buildings

Center City truly is a hotspot for class on the Philadelphia real estate market. Nine of the top 10 taxpaying properties on our list are huddled in the heart of town and seven of these are on the same street. Perhaps if Philadelphia Mall had enough room in the inner city, it would join the club. Read on to find out more about the Philadelphia buildings that ranked as the city’s top 10 highest taxpaying properties of 2016.

#1. Center Square$3,457,506 in property taxes in 2016

Philadelphia’s top taxpaying property is a twin high-rise complex. Center Square East and Center Square West were built together and completed in the early 1970s. The $80 million project opened with First Pennsylvania Bank as the principal tenant. The ambitious Jack Wolgin development is credited with having shifted Philadelphia’s downtown office district from South Broad Street to West Market Street.

Center Square is also well known in the art world—the art installed around the office complex sparked Philadelphia’s reputation as apromoter of public art. Perhaps the best known piece is Claes Oldenburg’s 45-foot weathered metal sculpture Clothespin, installed in front of the building, atop the subway entrance.

Center Square buildings and Clothespin (courtesy of Equity Commonwealth)

#2. 1735 Market$3,255,596 in property taxes in 2016

1735 Market (via 1735-Market.com)

Trivia Tidbit The 1735 Market building’s lobby made an appearance in the 1993 film Philadelphia

Right across the street from the Comcast Center, the office building formerly known as Bank of New York Mellon Center is built on the site of Philadelphia’s former Greyhound bus terminal.

Completed in 1990, the 54-story Center City office building is one of three office properties owned by Equity Commonwealth in Philadelphia.

Most of the region’s commuter trains stop at Suburban Station, which is located within walking distance of 1735 Market. In addition to the excellent connectivity, the iconic building is rich in amenities that are available to its high-profile tenants.

The roster features major financial institutions, leading law and consulting firms, as well as energy companies. The directory includes names like Philadelphia Energy Solutions, JPMorgan Chase, Deutsche Bank and Goldman, Sachs & Co.

1753 Market is also home to the Pyramid Club—a private business club residing at the “top of town” on the 52nd floor, with access to spectacular views of Center City. For over 20 years, the Pyramid club has served Philly’s business, social, cultural, academic and political scenes as a first class venue.

#3. One Liberty Place$2,907,574 in property taxes in 2016

One Liberty Place top spire (via onelibertyplace.net)

One of the most easily recognizable features on the Philadelphia skyline is the silver spire atop One Liberty Place.

Currently owned by Metropolis Investment Holdings and managed by Cushman & Wakefield, the skyscraper at 1650 Market Street was quite the subject of scandal when it was originally built in 1986—it was to be the first building that would rise higher than the statue of William Penn on top of Philadelphia City Hall, thus breaking an unwritten rule of construction in the city and garnering criticism from those who felt that Philadelphia owed its livability and charm to its low profile.

Topped out in 1986 at 61 stories, One Liberty Place became the tallest building in Pennsylvania. It was just phase one of the Liberty Place complex and was followed by the 58-story Two Liberty Place, the 2-story retail annex Shops at Liberty Place and a 14-story hotel.

Today, Liberty Place is celebrated as the most “viewtiful” of Philadelphia’s attractions—the 57th floor of One Liberty Place houses a unique observation deck, which offers 360-degree views of the city and beyond.

One Liberty Place observation deck (via onelibertyplace.net)

#4. Philadelphia Marriott Downtown$2,851,801 in property taxes in 2016

Philadelphia Marriott Downtown (via official Facebook page)

Philadelphia’s fourth-highest taxpaying property is the only hotel to make it into our top 10. Assessed at just over $200 million, this is the sixth-largest Marriott in the U.S.

Located within eight blocks of Independence Hall and the Liberty Bell, near the Philadelphia Museum of Art and connected to the Pennsylvania Convention Center by skywalk, it seems that this top taxpaying hotel could not be better situated.

The 1,400-key hotel is packed with convenience: high-speed internet, heated indoor pool, fitness center, full-service business center complete with 92,000 square feet of event space, on-site Starbucks coffee house, American cuisine-oriented on-site dining—and did we mention that it is right in the middle of Center City Philadelphia?

#5 & #6 Commerce Square Towers – $4,875,970 in property taxes in 2016

Towering 41 stories above Market Street, the 1986 trophy office complex takes up an entire city block. Together, One Commerce Square and Two Commerce Square account for just under 1.9 million square feet of Center City Philadelphia office space.

Constructed during Philadelphia’s 1980s office-building boom on West Market Street, the twin towers are part of Brandywine Realty Trust’s Philadelphia office portfolio. Following intensive upgrade efforts undertaken by BRT, both buildings are now LEED-Silver certified and Energy Star rated.

The Commerce Square complex features one of Philadelphia’s unique amenities—the central outdoor courtyard includes a 25-foot-by-25-foot media wall that displays both tenant- and community-oriented content.

One and Two Commerce Square (courtesy of Brandywine Realty Trust)

#7. 1818 Market$2,379,660 in property taxes in 2016

1818 Market (courtesy of Yardi Matrix)

Completed in 1976, the 40-story office building was the tallest construction in the city outside of Philadelphia City Hall, as it was just 48 feet shy of the top of William Penn’s hat. The height reign of both buildings ended when the unofficial height restriction was broken by the construction of One Liberty Place.

Now owned by San Diego-based Shorenstein Properties, the office building is undergoing another round of renovation and improvements. Despite the $2.3 million in property tax, this Philadelphia Central Business District office building is deemed well worth the investment.

#8. Philadelphia Mills$2,284,670 in property taxes in 2016

The one property outside Center City Philadelphia is also the only retail property to make it into our top 10. Built on the former site of Liberty Bell Park Racetrack, the shopping center originally opened in 1989. It was named Franklin Mills, for Benjamin Franklin, and it was built in the shape of a thunderbolt in commemoration of his kite-and-key experiment.

Current owner Simon Property Group changed the name of the retail property to Philadelphia Mills in 2014. Operating over 200 popular stores and anchored by seven major tenants, the Northeast Philadelphia shopping center is well equipped to serve the Philadelphia retail market.

Aerial view of the Philadelphia Mills shopping center (courtesy of Simon Property Group)

#9. Three Logan Square$2,193,632 in property taxes in 2016

One of only three properties on our list to not have an address on Market Street, the 57-story, 1 million-square-foot office tower located at 1717 Arch Street is another property in the Brandywine Realty Trust Philadelphia portfolio. Formerly known as the Bell Atlantic Tower, the red granite Philadelphia skyline staple overlooks the Benjamin Franklin Parkway and the namesake public square. BRT renamed the property to better identify its location near the 30-story One Logan Square and the 34-story Two Logan Square. The tallest member of the trio also features an observation deck, which, although located six floors lower than One Liberty Place’s, is high enough to offer sweeping views of Philadelphia.

images courtesy of Yardi Matrix

#10. Two Liberty Place$2,144,516 in property taxes in 2016

Two Liberty Place (courtesy of Yardi Matrix)

Unlike the Commerce Square twin towers, the Liberty Place high rises are further apart in the property tax charts. Completed four years after One Liberty Place and topped out at three stories shorter, Two Liberty Place rounds out our top 10.

The $2 million property tax is not all that’s special about this building—in 2007, The Falcone Group and America’s Capital Partners set out to convert roughly 400,000 square feet of the 1 million-square-foot office building into 122 residential condos. Not the first office-to-residential conversion, but certainly rare in the case of a premier downtown office tower.

Both the office tenants and the residential occupants of Philadelphia’s tallest mixed-use building enjoy immediate access to The Shops at Liberty Place, as well as the wealth of upscale Center City amenities.


  • Datasource: Property Shark and proprietary research (download raw data)
  • 2015 and 2016 Tax Values verified with the Philadelphia County Property Assessment Office website
  • Results which could be verified with the City of Philadelphia Assessor page were not included in the list
  • Results that are tax exempt were not included in the list
  • Search was based on individual parcels
  • Two Liberty Place* tax value is composed of a sum of 3 parcels: 1601 Chestnut St #A, 1601 Chestnut St #B, 1601 Chestnut St #C

Comments are closed.

10 Top Taxpaying Properties in Philadelphia - CommercialCafe (2024)


At what age do you stop paying property taxes in PA? ›

Age requirements

A person aged 65 years or older, A person who lives in the same household with a spouse who is aged 65 years or older, or. A person aged 50 years or older who is a widow of someone who reached the age of 65 before passing away.

Where do you pay property taxes in Philadelphia? ›

Payments, assessments, appeals, and more are all handled through this office. Individuals who are looking to visit the City of Philadelphia Property Tax offices in person can stop by the following location: City of Philadelphia Property Tax Office, 601 Walnut St. Suite 300 W., Philadelphia, PA 19106, 215-686-4334.

How to avoid paying property taxes in PA? ›

Property, lots & housing
  1. Get a property tax abatement.
  2. Get the Homestead Exemption.
  3. Apply for the Longtime Owner Occupants Program (LOOP)
  4. Active Duty Tax Credit.
  5. Enroll in the Real Estate Tax deferral program.
  6. Set up a Real Estate Tax installment plan.
  7. Low-income senior citizen Real Estate Tax freeze.
6 days ago

What is the property tax rate in Philadelphia? ›

Levied at a rate of 1.3998%, the tax applies to the assessed value of real property after accounting for any exemptions.

Is Pennsylvania getting rid of property taxes? ›

The Pennsylvania House voted on legislation this week that has important implications for public school funding. In a bit of welcome news, lawmakers voted 59-138 Tuesday to reject an amendment eliminating school property taxes, the most significant source of funding for 1.8 million public school students.

What counties in PA have the highest property taxes? ›

Many counties with the highest burdens share borders, such as Monroe, Pike, Wayne and Northampton. All counties in the bottom 10 are in the western and central regions of the state, and several border each other. The notable exception is Philadelphia, which had the third-lowest property tax burden in the state.

What is the 10 year tax abatement in Philadelphia? ›

What Changes Does the New Bill Bring? Under the new bill, exceptions for real estate taxes on new residential properties will still start at 100%. However, that amount will decrease by 10% every year, for ten years. Essentially, the initial tax exemption would slowly decrease and disappear after a decade.

What happens if you don't pay property taxes in Philadelphia? ›

If you're delinquent on your Pennsylvania property taxes, you could lose your home through a tax sale. Unpaid real property taxes in Pennsylvania could lead to an upset tax sale or a judicial tax sale—and the loss of your property.

What is the loop program in Philadelphia? ›

Homeowners with substantial changes in their property assessment (increased by 50% after the Homestead Exemption) may qualify for a discount on their Real Estate Tax bill through the Longtime Owner Occupants Program (LOOP).

How to lower property tax in Philadelphia? ›

Get Real Estate Tax relief
  1. Get a property tax abatement. ...
  2. Get the Homestead Exemption. ...
  3. Apply for the Longtime Owner Occupants Program (LOOP) ...
  4. Active Duty Tax Credit. ...
  5. Enroll in the Real Estate Tax deferral program. ...
  6. Set up a Real Estate Tax installment plan. ...
  7. Low-income senior citizen Real Estate Tax freeze.

Do you have to pay taxes if you bury someone on your property in Pennsylvania? ›

For instance, Section 204(a)(2) of the General County Assessment Law (the “Act”) provides that “[a]ll actual places of burial, including burial grounds and all mausoleums, vaults, crypts or structures intended to hold or contain the bodies of the dead” shall be exempt from all county, city, borough, town, township, ...

Do churches pay property taxes in Pennsylvania? ›

--The following property shall be exempt from all county, city, borough, town, township, road, poor, county institution district and school real estate taxes: (1) All churches, meetinghouses or other actual places of regularly stated religious worship, with the ground annexed necessary for their occupancy and use.

Did property taxes go up in Philadelphia? ›

Homeowners across Philadelphia saw their property values go up following a citywide property reassessment released last year. Residential property values increased by an average of 31% across the city for the 2023 tax year. Assessments doubled in some working-class neighborhoods. That all means higher tax bills.

What is the cheapest property tax in PA? ›

Three counties in PA that have some of the lowest property taxes are:
  • Bedford County. Bedford County has some of the lowest property taxes in PA, with a mill rate of three for the county and school district millage rates ranging from around eight to just over 11.
  • Sullivan County. ...
  • Philadelphia County.
Jul 31, 2019

How is Philadelphia property tax assessed? ›

The Office of Property Assessment (OPA) determines what every piece of property within Philadelphia is worth. The assessed dollar value is used to calculate the property's real estate tax due. Real estate tax (also known as property tax) provides a large part of our City's public school funding.

What is the age limit for pa property tax rebate? ›

The Property Tax/Rent Rebate program benefits eligible Pennsylvanians age 65 and older; widows and widowers age 50 and older; and people with disabilities age 18 and older.

How long do you have to pay property taxes in pa? ›

When Do You Have to Pay PA Property Taxes? Property taxes in Pennsylvania are due on March 31 each year. If your PA property taxes are drawn monthly, you should have no remaining balance at this deadline. You can receive a 1% discount for paying your bill on or before the last day of February.

Who is exempt from paying school taxes in pa? ›

Each school district may exempt any person whose total income from all sources is less than ten thousand dollars per annum from its per capita tax or any portion thereof. The school district may adopt and employ regulations for the processing of claims for the exemption.

At what age do you stop paying taxes? ›

Taxes aren't determined by age, so you will never age out of paying taxes. Basically, if you're 65 or older, you have to file a tax return in 2022 if your gross income is $14,700 or higher. If you're married filing jointly and both 65 or older, that amount is $28,700.


Top Articles
Latest Posts
Article information

Author: Madonna Wisozk

Last Updated:

Views: 5401

Rating: 4.8 / 5 (48 voted)

Reviews: 87% of readers found this page helpful

Author information

Name: Madonna Wisozk

Birthday: 2001-02-23

Address: 656 Gerhold Summit, Sidneyberg, FL 78179-2512

Phone: +6742282696652

Job: Customer Banking Liaison

Hobby: Flower arranging, Yo-yoing, Tai chi, Rowing, Macrame, Urban exploration, Knife making

Introduction: My name is Madonna Wisozk, I am a attractive, healthy, thoughtful, faithful, open, vivacious, zany person who loves writing and wants to share my knowledge and understanding with you.