Two industrial properties win tax appeals

Two industrial properties won tax appeals dating back as far as five years, with reductions ranging from 7 to 23 percent.

City Council approved a resolution (AR-263-15) at its Dec. 14 regular meeting authorizing a credit for overpayment as a result of a judgment by the state Tax Court.

An Elston Street property (Block 300, Lot 10) will get a total refund of $5,455.33 over two tax years, including $2,870.81 for 2009 (roughly 23 percent off its tax bill) and $2,584.51 for 2010 (about 19 percent). The half-acre site is assessed at $252,800, generating a property tax bill of about $15,969 this year.

Seagis Property Group, an industrial real estate firm based in West Conshohocken, Pa., owns the property at 880 Elston St., along with several others along Elston and Martin streets.

A Witherspoon Street (Block 350, Lot 2) property won a tax appeal amounting to about a 10 percent reduction off its tax bills for 2014 and 2015. For 2014, it will see a credit of $3,437 (almost 14 percent off its tax bill) and for 2015, a credit of $1,774 (about 7 percent), for a total $5,211.36 credit over two years.

The site at 1441 Witherspoon St. is assessed at $405,000, generating a tax bill of about $25,583 this year.

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