Philadelphia LOOP (Longtime Owner Occupants Program)
Tax relief for longtime owners whose assessments have sharply increased.
What is Philadelphia's LOOP program?
LOOP — the Longtime Owner Occupants Program — gives real estate tax relief to homeowners who have owned and lived in their home for many years and whose assessment has increased sharply. It effectively caps the taxable value for qualifying owners so a large reassessment does not push them out of their home.
Who qualifies?
LOOP is aimed at longtime owner-occupants who meet a length-of-ownership requirement, whose assessment rose by more than a set threshold, and who fall under an income limit. A homeowner generally must choose between LOOP and the homestead exemption — whichever provides the greater benefit — rather than using both.
How to use it
Because LOOP has an application deadline and interacts with the other relief programs, it is worth comparing your options — LOOP, homestead, and the Senior Citizen Tax Freeze — before deciding, and confirming the current thresholds for the year you apply.
How Nochumson P.C. helps
Nochumson P.C. helps Philadelphia owners navigate property tax relief and, where an assessment is simply wrong, pursue an assessment appeal. Contact us to talk through your options.
Related articles:
- Philadelphia Homestead Exemption: A Homeowner's Guide
- Philadelphia Senior Citizen Tax Freeze
- How to Appeal Your Philadelphia Property Tax Assessment
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