Only in Philadelphia….
The present tax assessment system, or lack thereof, has resulted in property tax inequities that are pretty much randomly distributed.
Reassessment is underway, to assess all properties at present market value. But the job is not complete, so no individual home owner really knows if their taxes are going up or down at this point. Of course if you are living in a neighborhood were values have been rising while your tax assessment has not, you can be pretty sure you are going to have to pay more. Everyone else will just have to wait and see.
Meanwhile, City Counsel has voted for two different tax plans, one which would be implemented without knowing the consequences of the reassessment, and the other which recommends waiting to implement a new tax plan until next year, when the reassessment is complete.
Meanwhile the State House of Representatives is considering providing Homestead Exemptions to qualifying Philadelphia home owners needing tax relief after the reassessment.
To qualify for the Homestead Exemption, you have to apply now, before the end of July.
So, here’s the bottom line. You may or may not need tax relief, and you may or may not get any. but before you know whether you need it or whether it is available, you must act. Get the form, file for relief.
To apply for the exemption, you must complete the Real Estate Tax Relief Homestead Exemption application and mail it to the Office of Property Assessment, P.O. Box 337, Willow Grove, PA 19090. The form is available from the City of Philadelphia, at www.phila.gov/pdfs/homestead_
Deadline for filing for relief in 2013 is July 31, 2012.
Thank you, State Rep. Cherelle Parker for sharing this information.
Kathleen Sheridan, Realtor® / WEICHERT, REALTORS® – McCarthy Associates / 6901 Germantown Ave, Philadelphia, PA 19119