Save Money on Your Real Estate Taxes

Date: 
August 20, 2013

 

Own your home and live in it? Then apply for the Homestead Exemption to save money on your real estate taxes. The Homestead Exemption offers Real Estate savings to all Philadelphia homeowners by reducing the taxable portion of their property assessment by $30,000 starting in Tax Year 2014.

Homeowners who own the property and live there as their primary residence are eligible to apply. With the Homestead Exemption, homeowners could receive a savings of up to $402 on their property tax bill for 2014 and beyond.

Once approved, homeowners will receive the exemption every year unless the resident moves or the deed to the property changes. If the deed to the property changes, the Homestead will be removed from the property and the homeowner will have to reapply to receive the exemption.

To apply, call the Homestead Hotline at (215)-686-9200 or visit www.phila.gov/opa. The deadline for applications is September 13th, 2013! Don’t delay, apply today!