The City of Philadelphia recently changed how properties are taxed in a process known as Actual Value Initiative, or AVI. During that transition, many Philadelphia property owners saw their property tax burden lowered - while some bills also rose.
To help offset drastic increases in property taxes, the Homestead Exemption was created for qualifying property owners.
The Homestead Exemption offers Real Estate Tax savings to all Philadelphia homeowners by reducing the taxable portion of their property assessment by $30,000.
How do you know if you are eligible? You must simply own the property and live in it as your primary residence. There are no other requirements.
Want to apply for the Homestead? Visit Bobby's office at 6730 Torresdale Ave or call 215-683-9220 with any questions. You can also apply online.Once you are approved, you will get the Exemption every year, unless you move or the deed to your property changes.