Maximize Your Savings: The Philadelphia Homestead Exemption

As you navigate homeownership in Philadelphia, it's essential to be aware of a valuable opportunity that could significantly impact your finances—the Homestead Exemption. In this tailored guide for recent homeowners, we'll explore the Homestead Exemption, providing insights into its eligibility criteria, benefits, and the importance of taking action promptly to maximize your savings.

The Homestead Exemption is a program specifically designed to benefit primary residence homeowners in Philadelphia. Its goal is to reduce the taxable portion of your property's assessed value, offering tangible financial benefits to homeowners like yourself. You can get this exemption for a property you own and live in and do not have another tax abatement. You are still eligible if you have a mortgage or are delinquent on your taxes.

Upon approval of your Homestead application, you'll experience a noteworthy reduction in your property's assessed value—specifically, a substantial $80,000. For recent homeowners, this translates to an annual saving of approximately $1,119 on your Real Estate Tax bill, providing valuable financial relief as you settle into your new home.

Once your application is accepted, there's no need to reapply for the exemption. Regardless of any future changes to the exemption amount, you're guaranteed property tax savings without the hassle of annual paperwork. 

Deadlines and Application Process:

The final deadline to apply for the Homestead Exemption is December 1 of each year. Early filers should apply by September 13, to see approval reflected on their Real Estate Tax bill for the following year. Applicants approved after September 13 date will receive a second bill with an adjusted amount due.

How to Apply:

Online: Utilize the user-friendly Homestead Exemption application on the Philadelphia Tax Center. No need to create a username and password—simply submit your application online. If a previous owner is listed, consider calling or submitting a paper application.

By Phone: Reach out to the Homestead Hotline at (215) 686-9200 to apply over the phone.

By Mail: If you prefer the traditional route, print and use the Homestead Exemption application.

Send your application to:
   City of Philadelphia
   Department of Revenue
   P.O. Box 52817
   Philadelphia, PA 19115

Embarking on homeownership is a significant journey, and we're here to support you every step of the way. If you have any questions or need guidance with your Homestead Exemption application, feel free to reach out. As you settle into your primary residence, seize the opportunity to maximize your savings through the Homestead Exemption.