As many of you know, if you own your primary residence in Philadelphia, you are eligible for the Homestead Exemption (unless you already have another tax exemption, such as the Tax Abatement or LOOP). The exemption amount is increasing for 2019—from $30,000 to $40,000. So each homeowner will save a total of $559.92/year ($40,000 x the tax rate of .013998).
When you purchase a new home, you MUST apply for the Homestead Exemption for that new home for the following year. So if you purchased in 2018, then you must apply by the upcoming deadline.
The deadline to apply for the 2019 Homestead Exemption is September 13, 2013. It is easy to apply online here. (https://www.phila.gov/services/property-lots-housing/get-real-estate-tax-relief/get-the-homestead-exemption/)
However, issues can occur (like if your closing was recent and the City does not have your name recorded yet). In that case, call (215) 686-9200 and they will answer your questions and take your application over the phone.
If you already have the Homestead Exemption for your existing home, you do not have to do anything. It will continue. If you are not sure if you have it, you can contact me or click here and enter your address. If it states you have a $30,000 exemption for 2019 than you have it (the site is not yet updated for the $40,000 figure). Sometimes, the information is confusing, so please contact me if you want clarification or want to discuss further.
IF YOU HAVE ANY QUESTIONS AT ALL ABOUT YOUR ELIGIBILITY, PLEASE CONTACT ME OR THE REVENUE DEPARTMENT (215-686-9200) BEFORE THE 9/13/18 DEADLINE.
Thank you and as always, do you know someone who is considering buying or selling real estate? I would be honored if you recommended me to be their trusted adviser. I pledge to provide them with the absolute highest level of service.