Philadelphia Homestead Exemption
Philadelphia Homestead Exemption
The deadline to apply for the Philadelphia Homestead Exemption is Friday, September 13th. It could save you up to $650 a year. See below for more information!
What is the Philadelphia Homestead Exemption?
The Homestead Exemption offers Real Estate Tax savings to all Philadelphia homeowners by reducing the taxable portion of their property assessment by $45,000.
Who is eligible to apply?
You must simply own the property and live in it as your primary residence. There are no other requirements.
Note: Effective Tax Year 2015, properties with 10-year residential abatements are not eligible to receive the Homestead Exemption. Once the abatement has expired you may apply for the Homestead Exemption.
Note: You do not need to re-apply each year. Once your application has been approved, you never have to reapply for Homestead. You will receive property tax savings every year, as long as you continue to own and live in the property.