Tax credits and exemptions
The Homestead Exemption offers Real Estate Tax savings to all Philadelphia homeowners by reducing the taxable assessment of their primary residence by $80,000. Homeowners will typically save up to $1,119 each year with Homestead starting in 2023.
If you are a member of the National Guard or armed services reserves, you may be eligible for a property tax credit. The tax credit applies for the period of time you were called to active duty outside of Pennsylvania.
If you or your spouse have a disability that is 100% service-connected, you may qualify for a Real Estate Tax exemption.
This program allows homeowners to make affordable monthly payments on property taxes that are past due.
This program is for low-income taxpayers and all senior citizens who own and live in their home. If eligible, you can pay your current-year Real Estate Tax in monthly installments. Completed applications must be submitted by the end of February.
The Longtime Owner Occupants Program (LOOP) is a Real Estate Tax discount program for homeowners who have lived in their homes for 10 years or more, experienced a significant increase in their property assessment from one year to the next, and meet income and other eligibility requirements.
The Department of Revenue will “freeze” your Real Estate Tax if you meet certain age and income requirements. This stops your property taxes from increasing, even if your property assessment or tax rates increase.
If your Real Estate Tax increases by more than 15% from the previous year, you may be able to postpone payment on the excess amount.
If a structure you own has been damaged by a fire or natural disaster resulting in a decrease of 50% or more in property value, you may qualify for a reduction in the property assessment. This program is offered by the Office of Property Assessment (OPA).