New Tax Relief Program for Longtime Homeowners

Date: 
December 9, 2013

 

The City of Philadelphia has created PHL Tax LOOP (Longtime Owner Occupants Program) to help ease the tax burden on homeowners. Approved homeowners will have their tax bill reduced for 10 years! Applications must be received by January 15, 2014 in order to be considered.

Homeowners must meet the following requirements:

  •  Your property’s 2014 Market Value minus the $30,000 Homestead Exemption must be more than 3 times the 2013 Market Value
  • You must own and have lived in this property as your primary residence since at least July 1, 2003.
  • Your home is a single family or a multi-unit property with no more than three residential units and one commercial unit. 
  • Your property cannot have received a tax abatement.
  • The Real Estate Taxes on your property must be paid in full or you must be up-to-date on a payment plan (or have an application for a payment agreement pending).
  • There are income limits based on household size.

Eligible property owners are being mailed a pre-filled application and brochure with their personalized tax savings information. If you are not eligible for LOOP, you may be eligible for other tax relief programs. For more information, please call 215-686-9200 or visit www.phila.gov/loop