Today's tip is for the homeowners out there. We received an important email about tax relief from Representative Michael H. O'Brien and wanted to spread the word!
Last week, the Nutter administration announced that Philadelphia homeowners must apply for a homestead exemption by July 31 if they want to receive some relief from property tax hikes caused by his AVI plan.
The General Assembly is currently considering legislation (S.B. 1301) to provide Philadelphia homeowners with a Homestead Exemption, which may reduce real estate tax bills after the property reassessment process is completed.
Every Philadelphia homeowner should apply for this exemption!
To qualify for the 2013 exemption, you must submit your application by July 31, 2012. The application form and instructions are available at www.phila.gov/pdfs/homestead_application.pdf.
All homeowners who submit an application will be notified if they have qualified, as well as the amount of their tax relief, when they receive their real estate tax assessment in the fall of 2012.
If you are granted an exemption, the assessed value of each eligible residential property is reduced by the amount of the exclusion before real estate taxes are computed.
Applications received after the July 31, 2012 deadline will not be considered until the 2014 tax year.
So fill out that application!
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