Wednesday, July 8, 2015

Homeowners apply now for homestead exemption

Philadelphia homeowners can now apply for a homestead exemption that would provide some relief to those who could be hit hard under Mayor Nutter's plan to move to a new property-tax system based on market values.

Homeowners apply now for homestead exemption

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Updated: To include additional information

Philadelphia homeowners can now apply for a Homestead exemption that would provide some relief to those who could be hit hard under Mayor Nutter’s plan to move to a new property-tax system based on market values.

Meanwhile, state lawmakers are still considering legislation needed to provide a Philadelphia homestead exemption. Nutter said Friday during a City Hall press conference that Philadelphia was excluded from the law when it was enacted in 1997, but he is hopeful state legislators will come through.

“I have yet to meet an elected official who wasn’t interested in helping constituents save money,” Nutter said.

Homeowners can apply until July 31. Primary residences of all homeowners are eligible regardless of age or income.

Fill out the application here. For additional information go to the city's website. Completed applications can be mailed to the Office of Property Assessment.

The homestead exemption would knock $15,000 or more off of all homeowners’ assessed values.

Homestead exemptions will be included in assessment change notices which will be mailed to homeowners in the fall along with a brochure about the exemption. Applications for the exemption will also be mailed to homeowners.

Nutter has proposed shifting to a new property-tax system based on market values known as the Actual Value Initiative and collect an extra $94 million along the way for schools.

Council has not yet agreed on an amount for a homestead exemption, but sources have said that Council is considering a homestead exemption that would take $30,000 to $40,000 off all homeowners’ assessed values.

Councilmen Jim Kenney and Mark Squilla plan on introducing next week legislation that would provide property tax relief to longtime residents in gentrifying areas.

 

 

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William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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