NBC10- Jacqueline London
The deadline for the Homestead Exemption is quickly approaching and not all residents are aware of the property tax relief. Philadelphia homeowners have until Sept. 13 to submit their exemption application.
The deadline for property tax relief, also known as the Homestead Exemption, is tomorrow.
Philadelphia homeowners have until Sept. 13 to submit their exemption application.
As of August 30, 207,000 people enrolled into the Homestead Rebate program, according to Kate Dreher of the Office of Property Assessment (OPA).
Based on city data, the OPA believes there are approximately 320,000 to 340,000 homeowners eligible for the program. That’s about 60 percent of likely homeowners who’ve applied for the program thus far.
"That's pretty good for a new government program," said Dreher. "But, there are more eligible homeowners. If you don't take advantage, you leave money on the table."
The Homestead Exemption reduces the taxable portion of a Philadelphia property assessment by $30,000, resulting in a savings up to $402 on real estate taxes for the 2014 tax year.
If you own your home and live in it as your primary residence you're eligible for the exemption. There are no other requirements.
Households received notice of the Homestead Exemption in February, at the same time they received their new property tax assessments.
The OPA has worked to simplify its message. The goal is to let residents know the process of applying is easy. Homeowners can call the Homestead Hotline at 215-686-9200 and even apply over the phone or online. The city plans to continue its outreach to inform homeowners of the savings via radio ads, SEPTA ads, fliers and at community meetings.
A City of Philadelphia Telephone Town Hall is scheduled for Tuesday, Sept. 10 at 6:45 p.m. with representatives from the departments of finance, revenue and OPA. Participants may ask questions live and pre-register here.
"We'd like to have more people enrolled in the program, but many may be waiting until the last minute," said Dreher.