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Founder & CEO at FairPlay | 10+ Years of Applying AI to Financial Services | Architect of $3B+ in Financing Facilities for the World's Underserved
Is your neighborhood tax assessor playing favorites? A new study on Philadelphia’s property tax fairness took a hard look at residential tax assessments — and, spoiler alert: It’s not all brotherly love in the City of Brotherly Love. 🏠💔 This study by the Reinvestment Fund dives deep into Philadelphia's 2023 residential taxes, and here’s what they found: Neighborhoods with higher percentages of Black, Hispanic, or low-income residents are more likely to experience: • Inaccurate assessments • Over-assessments • Under-assessment of high-value properties relative to low-value ones The study is a stark reminder that seemingly objective systems can hide biases that hit vulnerable communities the hardest. It’s also a clear call to cities across the country to take a hard look at their own assessment practices. If we can build AI that outsmart grandmasters at chess, surely we can design a system that fairly assesses property taxes — no matter the neighborhood.
Director of Compliance
2moThis has been an issue for decades now. There has been research conducted in this area from the Federal Reserve to the Brookings Institute. Adding a couple of links for additional information for interested parties.