HOMESTEAD EXEMPTIONS: Mayor’s Plan Buffers Tax Increase

June 7, 2012 | Filed under: Government,Subject Categories | Posted by:

Mayor Michael A. Nutter is offering Philadelphia homeowners a tax-saving program called the Philadelphia Homestead Exemption, which offers real-estate tax savings to homeowners by reducing the taxable portion of their property assessment by $15,000 or more.

The application is posted on www.phila.gov and will be mailed to all homeowners during the month of June. Homeowners can now apply until Jul. 31.

Currently, the legislation for the Philadelphia Homestead Exemption is pending before City Council and the Pennsylvania General Assembly.

“I want to ensure that every Philadelphia homeowner takes advantage of this real-estate tax savings,” said the Mayor. “The enrollment period will be open from Jun. 1 through Jul. 31, and I want to encourage all homeowners to apply this year. It’s a one-time application, and you will stay enrolled unless you sell your home or change your deed. We want every Philadelphia homeowner to realize these tax savings.”

The primary residences of all Philadelphia homeowners are eligible for the Homestead Exemption regardless of age or income. Vacation homes and non-owner-occupied rental properties are not eligible.

To determine the eligibility of properties, the Office of Property Assessment will consider factors including, but not limited to: residency in another state, voting address, vehicle registration, address on driver’s license or identification card; and address on federal income-tax returns.

If a homeowner’s property includes commercial or rental space, homeowners are still eligible to receive the Homestead Exemption for the portion of the property that is their primary residence.

Application forms can be downloaded on www.phila.gov and must be completed and returned to the City by Jul. 31, 2012. The approved Homestead Exemptions will be reflected on Assessment Change Notices mailed to homeowners in fall 2012.

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8 Responses to HOMESTEAD EXEMPTIONS: Mayor’s Plan Buffers Tax Increase

  1. I would hope that the government would announce this program on TV.
    I would also help that the people who know would tell the consiquences of this move. Please do not scam us again.

    helene kushnir
    June 11, 2012 at 5:39 pm

  2. So basically they’re raising the taxes and then making everyone sign up to get the old price. I expect this tactic from retail stores but I get confused when governments use it.

    Dan
    July 11, 2012 at 3:08 pm

  3. Does the Home Stead Act include Condos?

    Samuel Lieberman
    August 28, 2012 at 9:17 pm

  4. We checked with the Mayor’s Office. Yes, residential condos are included, provided you live in them yourself.

    editor @pr
    August 30, 2012 at 11:17 am

  5. I want to know why do we have to fill this form?
    Every home owner does not want taxes on their property to go up.
    What if a person doesn’t sign this homestead form?
    Will there be a penalty?
    What is an exemption for this tax?
    Please explain , I am totally confused.
    I have misgivings and feel a little distrustful .

    Miriam Courtney
    September 4, 2012 at 12:28 pm

  6. You don’t have to fill in this form. But if you don’t, then you cannot get a “homestead exemption” on the property you live in, and your real-estate tax will be a little higher.

    editor @pr
    September 6, 2012 at 10:06 am

  7. I am a little skeptical about this. I have heard that the city was going around to individual homes and reassessing their values. So is this a way of targeting an owner residence to increase taxes? So is this just another way of justifying raising taxes again while at the same time providing a small discount on a home assessment value that may double? In the end,I think my taxes are still going to go up even with this. Does anyone know if this type of program has been implemented in other cities and what the reaction from the citizens were?

    Andy
    September 7, 2012 at 5:42 am

  8. I think that this homestead act is just another way of raising property taxes.

    My property taxes have gone up from $2,300 four years ago to now $2,900. Where are the tax savings?

    Ron
    December 9, 2012 at 12:54 pm

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