Monday, August 13, 2012

Homestead Exemption Deadline Extended for Philadelphia Homeowners

Homeowners in Philadelphia will now be able to save money on their real estate taxes thanks to legislation passed by the City of Philadelphia providing a Homestead Exemption to all Philadelphia homeowners.

Because the Actual Value Initiative, which will make massive changes to the real estate tax system, will not be implemented until next year, the deadline for the Homestead Exemption has been extended to November 15th.

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.

For more information, go here.

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