Shorter AVI: Glossy Corporate Towers Win, Your House Loses

The Daily News has compiled a list documenting how AVI is affecting the city’s 25 biggest buildings. And guess what? All of their taxes are going down! “These numbers put in high relief a truth about AVI: It shifts the burden of the real-estate tax from commercial to residential buildings,” they report. “Citywide, commercial buildings are due to save about $72 million in taxes, while homes and apartments wil pay $72 million more.” Below is the tax decrease percentage each building will experience. To get a sense for ho wmuch that is in dollar figures, most will pay between $1 million and $5 million this year in taxes.

The List:

Three Logan Square: -57%

Comcast Center: -57%

Blue Cross Building: -48%

One Liberty Place: -48%

BNY/Mellon Center: -45%

Wells Fargo Building: -45%

Aramark Tower: -45%

One Logan Square: -40%

John Wanamaker Bldg.: -39%

Two Logan Square: -37%

PNC Bank Building: -36%

One South Broad: -33%

Two Liberty Place: -32%

One Commerce Square: -31%

AAA Midatlantic -30%

FIve Penn Center: -28%

The Curtis Center: -28%

Two Commerce Square: -27%

1717 Market: -24%

100 Market: -24%

Centre Square 1 & 2: -17%

Two Penn Center: -14%

1818 Market*: -11%

North American Building: -1%

Cira Centre: No taxes.

[Daily News]

*Disclosure: Philly Mag’s offices are located in this building