Did you know that you could save money on your real estate taxes? Upon passage of legislation, the City of Philadelphia will be offering a Homestead Exemption for all homeowners in Philadelphia. A Homestead Exemption means that if you own your home, you can qualify for a reduction of your
home’s reassessment, and therefore reduce your tax bill. There are no age or income restrictions and all homeowners in the city are encouraged to apply. To be eligible, you must own your own home and live in it, and complete the Homestead Exemption application by JULY 31, 2012. In addition to qualifying for a the homestead exemption on your property, you may also qualify for additional programs that can help reduce your real estate taxes. CLICK HERE FOR AN APPLICATION

When you receive your home assessment in the fall, after our comprehensive reassessment has been completed, you will receive notification of whether you have qualified and the amount of the exemption. Qualification is simply based on whether the home is your primary residence—that is, if you own your home and live in it, too. Rental homes or vacation homes do not qualify. Mixed use properties qualify and will benefit from the exclusion for the portion of the property that is the owners’ primary residence. CLICK HERE FOR A BROCHURE

After an application has been approved, you do not need to reapply each year unless the deed to the home changes.

Mail completed applications to the Office of Property Assessment at the address listed on the application by JULY 31, 2012.

Applications received after the deadline for consideration for this year will be considered for tax year 2014.

If you have any questions or concerns or if you are thinking of buying or selling contact
Jim Onesti 215-440-2052 or jonesti@mccannteam.com