Monday, December 22, 2014

Deadline to apply for Homestead Exemption is next week

Hey Philly homeowners, have you applied for your homestead exemption?

Deadline to apply for Homestead Exemption is next week

More than 36,000 property owners will see their tax bills increase by at least $1,000 a year under the city´s proposed AVI property tax change. (Photo: Shutterstock)
More than 36,000 property owners will see their tax bills increase by at least $1,000 a year under the city's proposed AVI property tax change. (Photo: Shutterstock)

Hey Philly homeowners, have you applied for your homestead exemption?

If not, you have until Sept. 13 to do so.

The exemption would lower a home's taxable value by $30,000 and provide some much needed relief to homeowners that'll see an increase to their tax bills under the Actual Value Initiative, the city's new property tax system.

Under the recently approved 1.34 percent property tax rate, a home valued at $100,000 with a homestead would have a $938 tax bill; a $200,000 value would mean a $2,278 tax bill. Check out AVICalculator to calculate your tax bill.

To qualify for the homestead exemption you must own your property and it must be your primary residence. To learn more about the exemption or to apply visit the city's website here.

About this blog
Chris Brennan, a native Philadelphian and graduate of Temple University, joined the Daily News in 1999. He has written about SEPTA, the Philadelphia School District, the legalization of casino gambling, state government, the mayor, the governor, City Council and political campaigns. E-mail tips to brennac@phillynews.com
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Jenny DeHuff is a 2005 graduate of the University of Rhode Island, where she cut her teeth in journalism. A South Philly transplant from New England, she joined the Daily News City Hall Bureau in 2013. For the past several years, she has worked as an investigative reporter exposing corruption in suburban politics, covering sometimes ghastly criminal court cases and following the people’s money and how its spent. In addition to being a dogged news hound, she enjoys reading and writing about travel, animals, Irish whiskey and aviation. E-mail tips to dehuffj@phillynews.com
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