Philadelphia property owners will see an average property tax increase of $330 this year due to the city’s first real estate reassessment in two years, announced by Mayor Cherelle L. Parker’s administration. To help mitigate the impact, the city has raised the homestead exemption from $80,000 to $100,000 and introduced a relief program that freezes property tax bills for low-income homeowners, while assessments can be challenged with the Board of Revision of Taxes by October 7th.