Philadelphia11 Jun 2012 10:01 pm

News From the City of Philadelphia

On June 1, 2012, Mayor Nutter and the City of Philadelphia launched the Philadelphia Homestead Exemption for all homeowners in Philadelphia. A Homestead Exemption means that if you own your home, you can qualify for a reduction of your home’s tax assessment, and therefore reduce your tax bill.

Although legislation is still pending for the approval of the program, you are encouraged to apply, as it will help reduce the taxable assessed value used for calculation of your tax bill. The program’s only requirement is that the property is your primary residence. There are NO requirements related to age, income or length of homeownership. To be eligible, you must own your own home and live in it, and complete the Homestead Exemption application by JULY 31, 2012.

The application is simple and takes only minutes to complete.  Applications and additional information about the Homestead will be mailed out to all Philadelphia homeowners by late June and is available online now at www.phila.gov. Applications are due July 31, 2012. You can reach the application directly at http://www.phila.gov/pdfs/homestead-applicationv2.pdf.

After an application has been approved, you do not need to reapply each year unless the deed to the home changes. Applications received after the deadline for this year will be considered for tax year 2014.

In addition to qualifying for the Homestead Exemption on your property, you may also qualify for additional programs that can help reduce your real estate taxes, including programs for those who meet income qualifications, are over age 65, or have a disability. More details about these programs can be found online at www.phila.gov or by calling 311.

Additional Links:

http://cityofphiladelphia.wordpress.com/2012/06/01/tax-relief-is-knocking/

http://www.phila.gov/pdfs/homestead_MayorLetter.pdf

http://www.phila.gov/pdfs/homestead_Brochure.pdf

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