After a citywide revaluation, the assessed value of Philadelphia office buildings fell by nearly 6%. The City of Philadelphia expects this decline to deepen as property owners appeal their assessments. The 2025 property assessments, released this week, show a $635 million drop in taxable value, bringing total office valuations to about $10.73 billion, down from $11.37 billion in 2024. While the decrease is less than the $1 billion drop projected in Mayor Cherelle Parker’s earlier budget, city officials still anticipate reaching that figure due to expected losses from appeals.
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.
Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.
