Help for Longtime Homeowners
We’ve seen many positive changes to our neighborhoods. With those changes however, home values have risen, causing some longtime homeowners to face potentially unaffordable increases in their tax bills. The City has created PHL Tax LOOP (Longtime Owner Occupants Program) to provide tax relief to ease the burden for these homeowners.
If you are approved, your tax bill will be reduced for 10 years. To get these savings, we must receive your application by January 15, 2014, and you have to meet the requirements below.
LOOP Eligibility Requirements:
- Your property’s 2014 Market Value minus the $30,000 Homestead Exemption must be more than 3 times the 2013 Market Value
- You must own and have lived in this property as your primary residence since at least July 1, 2003.
- Your home is a single family or a multi-unit property with no more than three residential units and one commercial unit.
- Your property cannot have received a tax abatement.
- The Real Estate Taxes on your property must be paid in full or you must be up-to-date on a payment plan (or have an application for a payment agreement pending).
- There are income limits based on household size.
Eligible property owners are being mailed a pre-filled application and brochure with their personalized tax savings information. If you are not eligible for LOOP, you may be eligible for other tax relief programs.
How to help a homeowner you think might be eligible for LOOP:
- Confirm that they are a homeowner.
- Confirm that this has been their primary residence since at least July 1, 2003.
- Check if the change in their property value makes them eligible.
- If they received the application in the mail, their property is eligible.
- If they did not receive the application, you can check online.
ii. Accept the terms and condition, then enter the applicants home address.
iii. Click on the tab that says “Tax LOOP”
iv. If the property is eligible, work through the rest of the eligibility questions with them. If they are eligible, it will show the discounted amount due and the amount they will save.
- If they aren’t eligible, they may be eligible for other programs and can get more info at www.phila.gov/revenue or by calling 215.686.6442.
- If they are eligible, encourage them to use the application that was mailed to them. It is pre-filled with their account information and can be processed more quickly.
- If they do not have an application, one can be printed from www.phila.gov/LOOP.
- Applications must be received by January 15, 2014.
- Applicants should pay the discounted Real Estate Tax amount listed on the brochure and eligibility checker by March 31, 2014. If they pay through their mortgage, no action is needed.
- If they are approved, no additional action is needed. If the application is denied, they will need to pay the balance by April 30, 2014.
- If they are not eligible, refer them to www.phila.gov/revenue to see if there are other programs that may work for them.
Have questions or need help? Call 215-686-9200 or visit www.phila.gov/loop