Philadelphia Homestead Exemption: A Homeowner's Guide
How the homestead exemption lowers the taxable value of your primary residence.
What is the Philadelphia homestead exemption?
The homestead exemption reduces the taxable assessed value of a homeowner's primary residence, which lowers the annual real estate tax bill. It applies only to a property the owner actually lives in as their main home, not to rentals or investment property.
Who qualifies and how do you apply?
Owner-occupants of a primary residence in Philadelphia generally qualify. You apply once through the City's Office of Property Assessment, and the exemption then carries forward in later years without reapplying, as long as you still own and occupy the home. There is an annual deadline to have it apply for the coming tax year.
Does it stack with other programs?
Homeowners can often combine the homestead exemption with other relief such as the Senior Citizen Tax Freeze or LOOP program, depending on eligibility. If you believe your home is over-assessed, the exemption is separate from — and can be paired with — a formal assessment appeal.
How Nochumson P.C. helps
Nochumson P.C. counsels Philadelphia owners on real estate tax relief and assessment strategy. Contact us with questions about your property taxes.
Related articles:
- Philadelphia Senior Citizen Tax Freeze
- Philadelphia LOOP (Longtime Owner Occupants Program)
- How to Appeal Your Philadelphia Property Tax Assessment
- Philadelphia's 10-Year Property Tax Abatement, Explained
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