Philadelphia, May 9, 2013 – City Council on Thursday voted to extend the deadline to apply for residential property tax relief, commonly known as the Homestead Exemption, from July 31, 2013, to Sept. 13, 2013.
Owner-occupants are eligible to receive the Homestead Exemption, which could deliver hundreds of dollars in tax savings per household under the Actual Value Initiative (AVI) in Tax Year 2014.
Council also voted to allow persons who purchase homes within 30 days before the Sept. 13 deadline or shortly after to apply for the Homestead Exemption within 30 days of the date of transfer. The cut-off for such applications is Dec. 1, 2013.
According to the Nutter Administration, little over 50 percent of eligible homeowners have been approved for the Homestead Exemption. Council offices are reaching out to eligible households to inform them of the Homestead Exemption and to assist with the application process.
Co-sponsors of the deadline extension ordinance, introduced on Council President Clarke’s behalf by Councilman Curtis Jones, Jr. (4th District) on April 18, include Councilwoman Cindy Bass (8th District), Councilman At-Large Bill Greenlee, Councilman Bobby Henon (6th District), Councilman Kenyatta Johnson (2nd District), Councilman At-Large Jim Kenney, Councilman At-Large Dennis O’Brien, Councilman Brian O’Neill (10th District), Councilwoman Maria Quiñones Sánchez (7th District), Councilman Mark Squilla (1st District), and Councilwoman Marian Tasco (9th District).
Councilwoman Jannie Blackwell (3rd District) and Councilwoman At-Large Blondell Reynolds-Brown co-sponsored the ordinance allowing new home purchases to be Homestead-eligible.
With full participation in the Homestead Exemption program, as many as 72 percent of Philadelphia homeowners could get a property tax cut next year.
Click below to go to Homestead Exemption Application site: