The Longtime Owner Occupants Program (LOOP) is a Real Estate Tax abatement for eligible homeowners who have had their property assessments triple, or more, from one year to the next, and have lived in their home for 10 years or more.
LOOP works by:
- Tripling your home’s previous assessed value, and
- Locking-in that assessment for as long as you remain eligible.
That means that if the assessment of your home exactly tripled, you will not save money in the year you apply. LOOP can save you money immediately if the assessment more than tripled. You could also save money in the future if the assessment goes up again, because your Real Estate Taxes will be based on the “locked” assessment.
Even if you have LOOP, a Real Estate Tax rate change can increase or lower your bill.
You must meet the following requirements to be eligible for LOOP.
- You are a homeowner whose primary residence’s certified market value tripled (or more than tripled) between the current and preceding tax year.
- You have lived in your home for 10 years or more.
- Your property taxes must be current or you must be in an Owner Occupied Payment Agreement.
- Your income must fall below the cap set for your family size.
|Family size||Income cap|
A trust can sometimes be eligible for LOOP. The Department of Revenue’s legal team reviews LOOP applications submitted by trusts, and may request additional information as part of the process.
If you meet these requirements, please fill out a LOOP application and mail it to:
Philadelphia Department of Revenue
PO Box 53250
Philadelphia, PA 19105
Once you qualify for LOOP you don’t have to reapply–it will be automatically applied to your Real Estate Tax bill each year.
You can add and remove family members to your deed if they die, move in, or move out, without affecting your LOOP status, as long as you still meet the income requirements.
Opting out of LOOP
You become ineligible for LOOP if you:
- No longer live in the home.
- Are delinquent on Real Estate Taxes that aren’t subject to a payment agreement.
If you no longer meet the eligibility requirements for LOOP you must alert the Department of Revenue within 45 days using the LOOP Removal Form, which must be printed, filled out, and mailed to the address above.
LOOP and other discount programs
You cannot enroll in LOOP and the Homestead Exemption at the same time. You can calculate which would get you a bigger discount, and use whichever you prefer.
You can still apply for the Low Income Senior Tax Freeze program, installment plans, Owner Occupied Payment Agreements, and any other local or state Real Estate Tax assistance programs, including rebates.
Paying Real Estate Taxes when you have LOOP and are in an Installment Agreement
Once you are approved for LOOP, you will receive new monthly coupons reflecting the discounted amount and how much you have already paid. Until then, you may either pay the monthly amount listed on your original coupon book or divide the LOOP discounted tax amount by 12 and pay that amount each month.