Like the Controller's office, the CCoT recently embarked on a thorough examination of OPA's data, and reached several disturbing conclusions:
- OPA claims that the coefficient of dispersion (essentially a number that accounts for margin of error) for AVI is 13.9% and within the industry standard of 15%. The CCoT found this margin of error to be several factors higher.
- The most expensive homes are generally underassessed, and the least expensive homes are generally overassessed
- Land that abated properties sit upon is generally underassessed, with land under Center City condo buildings woefully underassessed
- The largest office buildings are underassessed by 15-30%. This error pushes millions of dollars of tax burden from large commercial property owners to residential property owners