Homestead Exemption Applications Must be Filed to the Office of Property Assessment by December 1st, 2024

Do you own your primary residence? Are you interested in saving up to $1,400 in real estate taxes? If so, make sure to get your Homestead Exemption application filed by December 1st. 

Philadelphia Homestead Exemption Deadline Approaches

The Philadelphia Code authorizes an exemption from real property taxes for residential, owner-occupied properties. This year, the Homestead Exemption was increased to exempt $100,000 of assessed value from taxation, which equals a savings of around $1,400. Owner-occupants of residential properties must apply by December 1 to be considered for this exemption. Technically, the Philadelphia Code sets a deadline of September 13th for such owners to apply for and receive the Homestead Exemption for tax year 2025 as a non-discretionary matter. However, the Office of Property Assessment (OPA) may, in its discretion, authorize Homestead Exemptions where an application is submitted by December 1st, on good cause shown. This year, of course, the OPA did not certify tax year 2025 property values by the March 31st deadline. Notices of changes in property owners’ assessments did not begin to go out until August, and it is therefore likely that many taxpayers did not know their 2025 real estate tax assessment until just around or after the September 13th deadline. This is arguably good cause for accepting a late application for the exemption.

A bill to extend the non-discretionary deadline from September 13th to December 1st just passed a second reading in Philadelphia City Council and is in the Mayor’s office for review. This bill, if signed into law, would also extend the discretionary deadline to December 31st and result in a mandate to the Philadelphia Department of Revenue to automatically reimburse the amount of the Homestead Exemption savings to taxpayer accounts for which the OPA approves timely applications.

Accordingly, you should plan to file your Homestead Exemption application, and if you have not done so by December 1st, please contact Amanda Dougherty by email at amanda.dougherty@nochumson.com or by phone at (215) 714-1219 to discuss any questions you have about filing your Homestead Exemption application.