Philadelphia released new property tax assessments for the first time since 2022. Property assessments went up throughout the city and most homeowners will see an increase of about $300 in their 2025 tax bills. Property owners are expected to pay taxes based on this appraisal by March 31, 2025. What should homeowners do to reduce their property tax obligation?
File Assessment Appeals by October 7, 2024
Owners who believe their properties have been inaccurately valued can file an assessment appeal. To file an informal appeal with OPA, property owners can request and fill out a First Level Review form. This process avoids a hearing, and OPA will inform filers of any adjustment in valuation. The formal BRT appeal form is available online. After completing and submitting this form, BRT will schedule a hearing. Reasons to appeal might include:
- assessment is not uniform with similar surrounding properties
- characteristics of property are substantially incorrect in the assessment
Tax Relief/Exemption Programs and Payment Plans
Take full advantage of various tax relief and exemption programs available to homeowners below. Visit our website for additional information about these resources.
- Homestead Exemption reduces a home’s valuation by $100,000. Saves most homeowners about $1,399 a year. Final application deadline is December 1.
- Longtime Owner Occupants Program freezes tax bills at either 50% or 75% of assessed value for homeowners who have lived in their properties for 10 or more years. Deadline is September 30
- Senior Citizen Tax Freeze freezes the amount of property tax homeowners pay. Age and income restrictions apply. Deadline is September 30
- Low-Income Property Tax Freeze tax freeze for those meeting certain income thresholds. Revenue Department is expected to open applications for this program in the fall, according to announcement from the city.
The Owner-occupied Real Estate Tax Payment Agreement (OOPA) allows homeowners to make affordable monthly payments on property taxes that are past due. The Real Estate Tax Installment Plan is for low-income taxpayers and all senior citizens who own and live in their home. If eligible, you can pay your current-year Real Estate Tax in monthly installments.
To explore your options and get technical assistance, call the Philadelphia Legal Assistance “Save Your Home Hotline” at 215-334-4663, or reach out to Community Legal Services at 215-981-3700.