Legislation

Council proposed boosting Philadelphia homestead exclusion to $50,000 over several years

Philly homeowners stand to save an extra $20,000 a year under new legislation raising the homestead exemption threshold to $50,000, providing relief to property owners with modest homes and large families.

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Council proposed five-year deferral of property tax payments for primary residence owners.

Homeowners with primary residences may be able to temporarily defer a portion of their property taxes, thanks to a new bill allowing up to five years' worth of relief from unexpected increases due to reassessments.

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City Council Moves to Cut Property Taxes for Philadelphia Homeowners with New Homestead Exemption Law Takes Effect Next Year

Homeowners could soon see a $1,000 cut in their property taxes under a new law set to take effect next year, exempting a portion of the assessed value of homestead property from real estate taxes.

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