You Could Be Eligible for Reduced Property Taxes With These Three City Programs

Philadelphia offers several programs aimed at helping residents deal with the rising costs of home ownership. Below are three of the more common programs available to Philadelphians.

The Homestead Exemption

What is the Homestead Exemption?
“If you own your primary residence, you are eligible for the Homestead Exemption on your Real Estate Tax.

The Homestead Exemption reduces the taxable portion of your property’s assessed value…by $80,000. Most homeowners will save about $1,119 a year on their Real Estate Tax bill starting in 2023.

Once we accept your application, you never have to reapply for the exemption, even if the amount of the exemption changes. You will receive property tax savings every year, as long as you continue to own and live in the property.”

Who is the Homestead Exemption for?
“You can get this exemption for a property you own and live in. You are still eligible if you have a mortgage or are delinquent on your taxes.” Property owners with an active 10-year tax abatement are not eligible.

How Do I Apply?
“The final deadline to apply for the Homestead Exemption is December 1 of each year. Early filers should apply by September 13, to see approval reflected on their Real Estate Tax bill for the following year. Applicants approved after September 13 date will receive a second bill with an adjusted amount due.”

Applicants can apply by mail, by phone, or via an online form.

Click here for more information and directions for applying for the Homestead Exemption on the City’s website.

The Longtime Owner Occupants Program (LOOP)

What is the LOOP Program?
“The Longtime Owner Occupants Program (LOOP) is a Real Estate Tax relief program for eligible homeowners whose property assessments increased by 50% or more from last year or 75% over the past five years.

Participants must also fall within income limits and meet length of home ownership requirements.”

Who is the LOOP Program for?

“You must meet the following requirements to be eligible for LOOP:

You are a homeowner whose primary residence’s assessment increased by 50% from last year OR 75% in the last five years.

You have lived in your home for 10 years or more.

Your property taxes must be current, or you must be in an Owner-Occupied Payment Agreement or installment plan.

Your income must fall below the limit set for your family size.

…You cannot enroll in LOOP and the Homestead Exemption at the same time. Before applying for LOOP, estimate your Real Estate Tax bill with both LOOP and the Homestead Exemption…You can still apply for the Low-Income Senior Tax Freeze program, installment plans, the Owner-Occupied Payment Agreement, and any other local or state Real Estate Tax assistance programs, including rebates.”

How Do I Apply?
Download the application form on the City’s website and fill it out to apply. You can return the form by mail or in person at the Department of Revenue Office in Center City. Instructions and addresses are provided on the form.

Click here for more information and directions for applying for the LOOP Program on the City’s Website.

The Low-Income Senior Citizen Real Estate Tax Freeze

What is the Senior Property Tax Freeze Program?

“The low-income senior citizen Real Estate Tax freeze… [is a Department of Revenue Program that] prevent[s] your Real Estate Tax bill from increasing if you meet certain age and income requirements.

Under the Real Estate Tax freeze, the amount of property tax you pay each year will not increase, even if your property assessment or the tax rate changes. If your tax liability decreases due to a lower property assessment or a tax rate decrease, the amount of Real Estate Tax you owe will also be lowered to the new amount.”

Who is the Senior Property Tax Freeze for?
“Applicants must meet both age and income requirements to be found eligible for a Real Estate Tax freeze.

Age Requirements

For purposes of this program, an eligible senior is someone who meets any of the following descriptions:

A person aged 65 years or older,

A person who lives in the same household with a spouse who is aged 65 years or older, or

A person aged 50 years or older who is a widow of someone who reached the age of 65 before passing away.

Income Requirements

Eligible applicant(s) will have a total income of:

$33,500 or less for a single person, or

$41,500 or less for a married couple.”

How Do I Apply? (< Accordion)

You can apply online, by mail, or in person at the Department of Revenue Office in Center City. Instructions and addresses are provided on the form.

Click here for more information and directions for applying for the Senior Tax Freeze on the City’s Website.

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