{"id":9514,"date":"2017-05-24T09:37:24","date_gmt":"2017-05-24T09:37:24","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=9514"},"modified":"2025-07-15T17:36:00","modified_gmt":"2025-07-15T14:36:00","slug":"philadelphia-top-taxpaying-properties","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/philadelphia-top-taxpaying-properties\/","title":{"rendered":"10 Top Taxpaying Properties in Philadelphia"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>Philadelphia: birthplace of America, heart of the Delaware Valley and Pennsylvania&#8217;s largest city. Although no Philadelphia properties made it onto our list of <a href=\"https:\/\/www.commercialcafe.com\/blog\/top-100-property-taxes-us\/\" target=\"_blank\" rel=\"noopener noreferrer\">top 100 taxpaying properties in the U.S.<\/a>, the region&#8217;s historic and economic importance makes it well worth a look.\u00a0A <a href=\"https:\/\/philly.curbed.com\/2016\/6\/28\/12040064\/state-of-philadelphia-metro-region-report\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> released last year by the Delaware Regional Valley Planning Commission shows Philadelphia to be the sixth-most diverse economy in the country\u2014one that investors are certainly not shying away from. We combed through <a href=\"https:\/\/www.propertyshark.com\" target=\"_blank\" rel=\"noopener noreferrer\">PropertyShark<\/a> data and county public records and put together a list of the top 10 taxpaying properties in the city.<\/p>\n<p>Chicago-based Equity Commonwealth has three Philadelphia properties listed in its Class A portfolio. Two of these\u2014Center Square and 1735 Market \u2014 take up the first and second spots in our top 10 and the property taxes they commanded last year amounted to just over $6.7 million. Pennsylvania-based Brandywine Realty Trust&#8217;s national portfolio boasts 10 Philadelphia office properties, three of which are among Philly&#8217;s top 10 taxpaying properties, together commanding\u00a0$7 million in property taxes in 2016 (spots 5, 6 and 9).<\/p>\n<p>Of course, the property tax landscape would be different if we had not left out the non-taxpaying properties that we came across during our research. For instance, we would be looking at a different property in the number one spot\u2014the Comcast Center was built in 2008 and <a href=\"https:\/\/www.theguardian.com\/us-news\/2015\/apr\/20\/comcast-towering-ambition-philadelphia-street-level-reality\" target=\"_blank\" rel=\"noopener noreferrer\">received<\/a> a 10-year tax abatement. Once that expires, the building towering above John F. Kennedy Boulevard would command an estimated $4.7 million in 2018 property taxes.<\/p>\n<div class=\"infogram-embed\" data-id=\"copy_los_angeles__top_10_taxes-9\" data-type=\"interactive\" data-title=\"Philly Top 10 Taxes\"><\/div>\n<p><script>!function(e,t,s,i){var n=\"InfogramEmbeds\",o=e.getElementsByTagName(\"script\"),d=o[0],r=\/^http:\/.test(e.location)?\"http:\":\"https:\";if(\/^\\\/{2}\/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement(\"script\");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,\"infogram-async\",\"\/\/e.infogr.am\/js\/dist\/embed-loader-min.js\");<\/script><\/p>\n<h3>Mapping out Philly&#8217;s top 10 taxpaying buildings<\/h3>\n<p>Center City truly is a hotspot for class on the <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/pa\/philadelphia\/\">Philadelphia real estate market<\/a>. Nine of the top 10 taxpaying properties on our list are huddled in the heart of town and seven of these are on the same street. Perhaps if Philadelphia Mall had enough room in the inner city, it would join the club. Read on to find out more about the Philadelphia buildings that ranked as the city&#8217;s top 10 highest taxpaying properties of 2016.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/ionutc.carto.com\/builder\/a33b3ec4-3bb8-11e7-995a-0e3ebc282e83\/embed\" width=\"100%\" height=\"520\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<h3>#1. Center Square &#8211;\u00a0<span class=\"igc-table-cell-span\">$3,457,506 <\/span>in property taxes in 2016<\/h3>\n<p>Philadelphia&#8217;s top taxpaying property is a twin high-rise complex. Center Square East and <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/centre-square-west\/\" target=\"_blank\" rel=\"noopener noreferrer\">Center Square West<\/a> were built together and completed in the early 1970s. The $80 million project opened with First Pennsylvania Bank as the principal tenant. The ambitious Jack Wolgin development is credited with having shifted Philadelphia&#8217;s downtown office district from South Broad Street to West Market Street.<\/p>\n<p>Center Square is also well known in the art world\u2014the art installed around the office complex sparked Philadelphia&#8217;s reputation as a\u00a0promoter of public art. Perhaps the best known piece is Claes Oldenburg&#8217;s 45-foot weathered metal sculpture <a href=\"https:\/\/www.associationforpublicart.org\/artwork\/clothespin\/#\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Clothespin<\/em><\/a>, installed in front of the building, atop the subway entrance.<\/p>\n<div id=\"attachment_9557\" style=\"width: 877px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/exterior-Clothespin-up-angle.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9557\" class=\"size-full wp-image-9557\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/exterior-Clothespin-up-angle.jpg\" alt=\"street view of the Center Square West tower in Philadelphia's CEnter City business district with Clothespin sculpture in front\" width=\"867\" height=\"577\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/exterior-Clothespin-up-angle.jpg 867w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/exterior-Clothespin-up-angle.jpg?resize=150,100 150w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/exterior-Clothespin-up-angle.jpg?resize=451,300 451w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/exterior-Clothespin-up-angle.jpg?resize=768,511 768w\" sizes=\"auto, (max-width: 867px) 100vw, 867px\" \/><\/a><p id=\"caption-attachment-9557\" class=\"wp-caption-text\"><em>Center Square buildings and Clothespin (courtesy of Equity Commonwealth)<\/em><\/p><\/div>\n<h3>#2. <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/bny-mellon-center\/\" target=\"_blank\" rel=\"noopener noreferrer\">1735 Market<\/a> &#8211;\u00a0<span class=\"igc-table-cell-span\">$3,255,596<\/span> in property taxes in 2016<\/h3>\n<div id=\"attachment_9586\" style=\"width: 296px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/1735Market_1735-market_com_resized.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9586\" class=\"wp-image-9586 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/1735Market_1735-market_com_resized.jpg\" alt=\"\" width=\"286\" height=\"750\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/1735Market_1735-market_com_resized.jpg 286w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/1735Market_1735-market_com_resized.jpg?resize=57,150 57w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/1735Market_1735-market_com_resized.jpg?resize=114,300 114w\" sizes=\"auto, (max-width: 286px) 100vw, 286px\" \/><\/a><p id=\"caption-attachment-9586\" class=\"wp-caption-text\"><em>1735 Market (via 1735-Market.com)<\/em><\/p><\/div>\n<p><em><strong>Trivia Tidbit<\/strong> The 1735 Market building\u2019s lobby made an appearance in the 1993 film Philadelphia<\/em><\/p>\n<p>Right across the street from the <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/comcast-center\/\" target=\"_blank\" rel=\"noopener noreferrer\">Comcast Center<\/a>, the office building formerly known as Bank of New York Mellon Center is built on the site of Philadelphia&#8217;s former Greyhound bus terminal.<\/p>\n<p>Completed in 1990, the 54-story Center City office building is one of three office properties owned by Equity Commonwealth in Philadelphia.<\/p>\n<p>Most of the region&#8217;s commuter trains stop at Suburban Station, which is located within walking distance of 1735 Market. In addition to the excellent connectivity, the iconic building is rich in amenities that are available to its high-profile tenants.<\/p>\n<p>The roster features major financial institutions, leading law and consulting firms, as well as energy companies. The directory includes names like Philadelphia Energy Solutions, JPMorgan Chase, Deutsche Bank and Goldman, Sachs &amp; Co.<\/p>\n<p>1753 Market is also home to the <a href=\"https:\/\/www.clubcorp.com\/Clubs\/Pyramid-Club\/\" target=\"_blank\" rel=\"noopener noreferrer\">Pyramid Club<\/a>\u2014a private business club residing at the &#8220;top of town&#8221; on the 52nd floor, with access to spectacular views of Center City. For over 20 years, the Pyramid club has served Philly&#8217;s business, social, cultural, academic and political scenes as a first class venue.<\/p>\n<h3>#3. One Liberty Place &#8211; <span class=\"igc-table-cell-span\">$2,907,574<\/span> in property taxes in 2016<\/h3>\n<div id=\"attachment_9574\" style=\"width: 321px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceTopSpire.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9574\" class=\"wp-image-9574 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceTopSpire-e1495189206927.jpg\" alt=\"image of the iconic philadelphia skyline feature the one liberty place spire\" width=\"311\" height=\"400\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceTopSpire-e1495189206927.jpg 311w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceTopSpire-e1495189206927.jpg?resize=117,150 117w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceTopSpire-e1495189206927.jpg?resize=233,300 233w\" sizes=\"auto, (max-width: 311px) 100vw, 311px\" \/><\/a><p id=\"caption-attachment-9574\" class=\"wp-caption-text\"><em>One Liberty Place top spire (via onelibertyplace.net)<\/em><\/p><\/div>\n<p>One of the most easily recognizable features on the Philadelphia skyline is the silver spire atop One Liberty Place.<\/p>\n<p>Currently owned by Metropolis Investment Holdings and managed by Cushman &amp; Wakefield, the skyscraper at <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/one-liberty-place\/\" target=\"_blank\" rel=\"noopener noreferrer\">1650 Market Street<\/a> was quite the subject of scandal when it was originally built in 1986\u2014it was to be the first building that would rise higher than the statue of William Penn on top of Philadelphia City Hall, thus breaking an unwritten rule of construction in the city and garnering criticism from those who felt that Philadelphia owed its livability and charm to its low profile.<\/p>\n<p>Topped out in 1986 at 61 stories, One Liberty Place became the tallest building in Pennsylvania. It was just phase one of the Liberty Place complex and was followed by the 58-story <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/two-liberty-place\/\" target=\"_blank\" rel=\"noopener noreferrer\">Two Liberty Place<\/a>, the 2-story retail annex Shops at Liberty Place and a 14-story hotel.<\/p>\n<p>Today, Liberty Place is celebrated as the most &#8220;viewtiful&#8221; of Philadelphia&#8217;s attractions\u2014the 57th floor of One Liberty Place houses a unique <a href=\"https:\/\/phillyfromthetop.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">observation deck<\/a>, which offers 360-degree views of the city and beyond.<\/p>\n<div id=\"attachment_9576\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceObservationDeck.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9576\" class=\"size-full wp-image-9576\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceObservationDeck.jpg\" alt=\"inside the observation deck on the 57th floor of One Liberty Place in Philadelphia\" width=\"1000\" height=\"600\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceObservationDeck.jpg 1000w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceObservationDeck.jpg?resize=150,90 150w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceObservationDeck.jpg?resize=500,300 500w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneLibertyPlaceObservationDeck.jpg?resize=768,461 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><p id=\"caption-attachment-9576\" class=\"wp-caption-text\"><em>One Liberty Place observation deck (via onelibertyplace.net)<\/em><\/p><\/div>\n<h3>#4. <span class=\"igc-table-cell-span\">Philadelphia Marriott Downtown<\/span> &#8211; <span class=\"igc-table-cell-span\">$2,851,801<\/span> in property taxes in 2016<\/h3>\n<div id=\"attachment_9578\" style=\"width: 316px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/Philly-Marriott-Official-facebook-page.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9578\" class=\"wp-image-9578 size-full\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/Philly-Marriott-Official-facebook-page-e1495189276704.jpg\" alt=\"street view of the Philadelphia Marriott Downtown with City Hall tower in the background\" width=\"306\" height=\"450\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/Philly-Marriott-Official-facebook-page-e1495189276704.jpg 306w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/Philly-Marriott-Official-facebook-page-e1495189276704.jpg?resize=102,150 102w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/Philly-Marriott-Official-facebook-page-e1495189276704.jpg?resize=204,300 204w\" sizes=\"auto, (max-width: 306px) 100vw, 306px\" \/><\/a><p id=\"caption-attachment-9578\" class=\"wp-caption-text\"><em>Philadelphia Marriott Downtown (via official Facebook page)<\/em><\/p><\/div>\n<p>Philadelphia&#8217;s fourth-highest taxpaying property is the only hotel to make it into our top 10. Assessed at just over $200 million, this is the <a href=\"https:\/\/en.wikipedia.org\/wiki\/List_of_largest_hotels\" target=\"_blank\" rel=\"noopener noreferrer\">sixth-largest Marriott in the U.S<\/a>.<\/p>\n<p>Located within eight blocks of Independence Hall and the Liberty Bell, near the Philadelphia Museum of Art and connected to the Pennsylvania Convention Center by skywalk, it seems that this top taxpaying hotel could not be better situated.<\/p>\n<p>The 1,400-key hotel is packed with convenience: high-speed internet, heated indoor pool, fitness center, full-service business center complete with 92,000 square feet of event space, on-site Starbucks coffee house, American cuisine-oriented on-site dining\u2014and did we mention that it is right in the middle of Center City Philadelphia?<\/p>\n<p>&nbsp;<\/p>\n<h3>#5 &amp; #6 Commerce Square Towers &#8211; <span class=\"igc-table-cell-span\">$4,875,970 <\/span>in property taxes in 2016<\/h3>\n<p>Towering 41 stories above Market Street, the 1986 trophy office complex takes up an entire city block. Together, <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/one-commerce-square\/\" target=\"_blank\" rel=\"noopener noreferrer\">One Commerce Square<\/a> and <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/two-commerce-square\/\" target=\"_blank\" rel=\"noopener noreferrer\">Two Commerce Square<\/a> account for just under 1.9 million square feet of <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/pa\/philadelphia\/center-city\/\">Center City Philadelphia office space<\/a>.<\/p>\n<p>Constructed during Philadelphia&#8217;s 1980s office-building boom on West Market Street, the twin towers are part of Brandywine Realty Trust&#8217;s Philadelphia office portfolio. Following intensive upgrade efforts undertaken by BRT, both buildings are now LEED-Silver certified and Energy Star rated.<\/p>\n<p>The Commerce Square complex features one of Philadelphia&#8217;s unique amenities\u2014the central outdoor courtyard includes a 25-foot-by-25-foot media wall that displays both tenant- and community-oriented content.<\/p>\n<div id=\"attachment_9591\" style=\"width: 810px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneCommerceSquare_BrandywineRealtyTrust.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9591\" class=\"size-full wp-image-9591\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneCommerceSquare_BrandywineRealtyTrust.jpg\" alt=\"\" width=\"800\" height=\"533\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneCommerceSquare_BrandywineRealtyTrust.jpg 800w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneCommerceSquare_BrandywineRealtyTrust.jpg?resize=150,100 150w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneCommerceSquare_BrandywineRealtyTrust.jpg?resize=450,300 450w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/OneCommerceSquare_BrandywineRealtyTrust.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><p id=\"caption-attachment-9591\" class=\"wp-caption-text\"><em>One and Two Commerce Square (courtesy of Brandywine Realty Trust)<\/em><\/p><\/div>\n<h3>#7. <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/1818-market\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"igc-table-cell-span\">1818 Market<\/span><\/a> &#8211; <span class=\"igc-table-cell-span\">$2,379,660<\/span> in property taxes in 2016<\/h3>\n<div id=\"attachment_9601\" style=\"width: 370px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_1818_Market-e1495196275924.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9601\" class=\"size-full wp-image-9601\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_1818_Market-e1495196275924.jpg\" alt=\"\" width=\"360\" height=\"450\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_1818_Market-e1495196275924.jpg 360w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_1818_Market-e1495196275924.jpg?resize=120,150 120w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_1818_Market-e1495196275924.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 360px) 100vw, 360px\" \/><\/a><p id=\"caption-attachment-9601\" class=\"wp-caption-text\"><em>1818 Market (courtesy of Yardi Matrix)<\/em><\/p><\/div>\n<p>Completed in 1976, the 40-story office building was the tallest construction in the city outside of Philadelphia City Hall, as it was just 48 feet shy of the top of William Penn&#8217;s hat. The height reign of both buildings ended when the unofficial height restriction was broken by the construction of One Liberty Place.<\/p>\n<p>Now owned by San Diego-based Shorenstein Properties, the office building is undergoing another round of renovation and improvements. Despite the $2.3 million in property tax, this <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/1818-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Philadelphia Central Business District office building<\/a> is deemed well worth the investment.<\/p>\n<p>&nbsp;<\/p>\n<h3>#8. <span class=\"igc-table-cell-span\">Philadelphia Mills<\/span> &#8211; <span class=\"igc-table-cell-span\">$2,284,670<\/span> in property taxes in 2016<\/h3>\n<p>The one property outside Center City Philadelphia is also the only retail property to make it into our top 10. Built on the former site of Liberty Bell Park Racetrack, the shopping center originally opened in 1989. It was named Franklin Mills, for Benjamin Franklin, and it was built in the shape of a thunderbolt in commemoration of his kite-and-key experiment.<\/p>\n<p>Current owner Simon Property Group changed the name of the retail property to Philadelphia Mills in 2014. Operating over 200 popular stores and anchored by seven major tenants, the <a href=\"https:\/\/www.commercialcafe.com\/commercial-real-estate\/us\/pa\/philadelphia-county\/philadelphia\/far-northeast-philadelphia\/\" target=\"_blank\" rel=\"noopener noreferrer\">Northeast Philadelphia<\/a> shopping center is well equipped to serve the Philadelphia retail market.<\/p>\n<div id=\"attachment_9605\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/SimonPropertyGroup_PhillyMillsAerial.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9605\" class=\"size-full wp-image-9605\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/SimonPropertyGroup_PhillyMillsAerial.jpg\" alt=\"\" width=\"1000\" height=\"330\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/SimonPropertyGroup_PhillyMillsAerial.jpg 1000w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/SimonPropertyGroup_PhillyMillsAerial.jpg?resize=150,50 150w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/SimonPropertyGroup_PhillyMillsAerial.jpg?resize=591,195 591w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/SimonPropertyGroup_PhillyMillsAerial.jpg?resize=768,253 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><p id=\"caption-attachment-9605\" class=\"wp-caption-text\"><em>Aerial view of the Philadelphia Mills shopping center (courtesy of Simon Property Group)<\/em><\/p><\/div>\n<h3>#9. <span class=\"igc-table-cell-span\">Three Logan Square<\/span> &#8211; <span class=\"igc-table-cell-span\">$2,193,632 <\/span>in property taxes in 2016<\/h3>\n<p>One of only three properties on our list to not have an address on Market Street, the 57-story, 1 million-square-foot office tower located at <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/three-logan-square\/\" target=\"_blank\" rel=\"noopener noreferrer\">1717 Arch Street<\/a> is another property in the Brandywine Realty Trust Philadelphia portfolio. Formerly known as the Bell Atlantic Tower, the red granite Philadelphia skyline staple overlooks the Benjamin Franklin Parkway and the namesake public square. BRT renamed the property to better identify its location near the 30-story <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/one-logan-square\/\">One Logan Square<\/a> and the 34-story <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/two-logan-square\/\">Two Logan Square<\/a>. The tallest member of the trio also features an <a href=\"https:\/\/www.topofthetower.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">observation deck<\/a>, which, although located six floors lower than One Liberty Place&#8217;s, is high enough to offer sweeping views of Philadelphia.<\/p>\n<div id=\"su_slider_6a292bbe5ce6d\" class=\"su-slider su-slider-centered su-slider-pages-yes su-slider-responsive-yes\" style=\"width:100%\" data-autoplay=\"0\" data-speed=\"0\" data-mousewheel=\"true\"><div class=\"su-slider-slides\"><div class=\"su-slider-slide\"><a><img decoding=\"async\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_OneLoganSquare-e1495200749253.jpg\" alt=\"One Logan Square\" \/><span class=\"su-slider-slide-title\">One Logan Square<\/span><\/a><\/div><div class=\"su-slider-slide\"><a><img decoding=\"async\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_TwoLoganSquare-e1495200741830.jpg\" alt=\"Two Logan Square\" \/><span class=\"su-slider-slide-title\">Two Logan Square<\/span><\/a><\/div><div class=\"su-slider-slide\"><a><img decoding=\"async\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_ThreeLoganSquare-e1495200830304.jpg\" alt=\"Three Logan Square\" \/><span class=\"su-slider-slide-title\">Three Logan Square<\/span><\/a><\/div><\/div><div class=\"su-slider-nav\"><div class=\"su-slider-direction\"><span class=\"su-slider-prev\"><\/span><span class=\"su-slider-next\"><\/span><\/div><div class=\"su-slider-pagination\"><\/div><\/div><\/div><em>images courtesy of Yardi Matrix<\/em><\/p>\n<h3>#10. <a href=\"https:\/\/www.commercialcafe.com\/commercial-property\/us\/pa\/philadelphia\/two-liberty-place\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"igc-table-cell-span\">Two Liberty Place<\/span><\/a> &#8211; <span class=\"igc-table-cell-span\">$2,144,516 <\/span>in property taxes in 2016<\/h3>\n<div id=\"attachment_9616\" style=\"width: 269px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_TwoLibertyPlace-e1495203830212.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-9616\" class=\"size-full wp-image-9616\" src=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_TwoLibertyPlace-e1495203830212.jpg\" alt=\"\" width=\"259\" height=\"450\" srcset=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_TwoLibertyPlace-e1495203830212.jpg 259w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_TwoLibertyPlace-e1495203830212.jpg?resize=86,150 86w, https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/YM_TwoLibertyPlace-e1495203830212.jpg?resize=173,300 173w\" sizes=\"auto, (max-width: 259px) 100vw, 259px\" \/><\/a><p id=\"caption-attachment-9616\" class=\"wp-caption-text\"><em>Two Liberty Place (courtesy of Yardi Matrix)<\/em><\/p><\/div>\n<p>Unlike the Commerce Square twin towers, the Liberty Place high rises are further apart in the property tax charts. Completed four years after One Liberty Place and topped out at three stories shorter, Two Liberty Place rounds out our top 10.<\/p>\n<p>The $2 million property tax is not all that&#8217;s special about this building\u2014in 2007, The Falcone Group and America&#8217;s Capital Partners set out to convert roughly 400,000 square feet of the 1 million-square-foot office building into 122 residential condos. Not the first office-to-residential conversion, but certainly rare in the case of a premier downtown office tower.<\/p>\n<p>Both the office tenants and the residential occupants of Philadelphia&#8217;s tallest mixed-use building enjoy immediate access to The Shops at Liberty Place, as well as the wealth of upscale Center City amenities.<\/p>\n<p>&nbsp;<\/p>\n<h4>Methodology:<\/h4>\n<ul>\n<li><em>Datasource: <a href=\"https:\/\/www.propertyshark.com\">Property Shark<\/a> and proprietary research (<a href=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/2017\/05\/Top10_Philly_Taxes.xlsx\" target=\"_blank\" rel=\"noopener noreferrer\">download raw data<\/a>)<br \/>\n<\/em><\/li>\n<li><em>2015 and 2016 Tax Values verified with the Philadelphia County Property Assessment Office website<\/em><\/li>\n<li><em>Results which could be verified with the City of Philadelphia Assessor page were not included in the list<\/em><\/li>\n<li><em>Results that are tax exempt were not included in the list<\/em><\/li>\n<li><em>Search was based on individual parcels<\/em><\/li>\n<li><em>Two Liberty Place* tax value is composed of a sum of 3 parcels: 1601 Chestnut St #A, 1601 Chestnut St #B, 1601 Chestnut St #C<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Philadelphia: birthplace of America, heart of the Delaware Valley and Pennsylvania&#8217;s largest city. Although no Philadelphia properties made it onto our list of top 100 taxpaying properties in the U.S., the region&#8217;s historic and economic importance makes it well worth a look.\u00a0A report released last year by the Delaware Regional Valley Planning Commission shows&hellip;<\/p>\n","protected":false},"author":48,"featured_media":9517,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,41,93,39,40],"tags":[],"class_list":["post-9514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-industrial","category-mixed-use","category-office","category-retail","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10 Top Taxpaying Properties in Philadelphia - CommercialCafe<\/title>\n<meta name=\"description\" content=\"Pennsylvania&#039;s largest city and the nation&#039;s sixth-most diverse economy has a lot to show for itself. See Philly&#039;s 10 highest-taxed buildings\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/philadelphia-top-taxpaying-properties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"10 Top Taxpaying Properties in Philadelphia\" \/>\n<meta property=\"og:description\" content=\"Pennsylvania&#039;s largest city and the nation&#039;s sixth-most diverse economy has a lot to show for itself. 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