The City of Philadelphia has again increased its Homestead Exemption. Starting in 2025, the exemption is worth about $1,399 to the average homeowner. The City is also expanding its Real Estate Tax freeze program to reach more low-income homeowners. We’re sharing the details below:
More money in your pocket!
Philadelphia administers several property tax relief programs to help homeowners. The Homestead Exemption is one of them. It reduces the taxable portion of your home’s assessed value. The recent increase will exempt $100,000 of your home’s assessed value from property taxes, saving you about $1,399 per year! That’s an increase of $279 over the previous $1,119 annual savings when the exemption amount was $80,000.
This is a huge relief every Philly homeowner should take advantage of. There is no income or age requirement to get the Homestead Exemption. Applying online from your phone or tablet is the easiest. First, use property.phila.gov to find out if you already have the exemption. Just enter your address (street number and name) and select “Search”.
If you don’t have it, you should apply on tax-services.phila.gov by September 13 to see the exemption reflected on your 2025 Real Estate Tax bill. If approved, you never have to reapply unless your deed changes.
Don’t delay, apply now!
It only takes a few clicks to apply online:
- Find the “Search for a property” link on the Philadelphia Tax Center‘s homepage under the “Property” panel.
- Enter your address and select “Search.” Your property’s OPA number appears as a blue hyperlink on the right side of the screen.
- Select it to access your property account. Then, choose the “Apply for real estate assistance programs” link to access the next page and follow the prompts to submit your application.
Current participants don’t need to do anything to take advantage of this change. You’ll receive the discount automatically. Share this good news with your neighbors and friends so they, too, can start saving hundreds of dollars in property taxes!
For LOOP participants
If you’re enrolled in the Longtime Owner Occupant Program (LOOP) and considering switching to Homestead, we suggest you estimate your bill and compare savings. You can then decide which program is right for you. Keep in mind that you can’t participate in both programs at once.
Expanded relief for homeowners
On June 13, Council approved new legislation to make property taxes more affordable for low-income homeowners. The Low-Income Real Estate Tax Freeze program has no age limit. If you qualify and are accepted into the program, you’ll continue to pay the same tax bill for as long as you live in your home or until your deed changes. Stay tuned to phila.gov/revenue for more details about this new program when it launches. Better yet, sign up for our newsletter.
No tax rate change for FY25
For fiscal year 2025, all Philadelphia tax rates remain unchanged. The rates for the Wage Tax, Earnings Tax, School Income Tax, Net Profits Tax, and Business Income and Receipt Tax remain the same. Employers must continue withholding Wage Tax at the current rates for residents and non-residents. You can find all other tax rates, due dates, and payment frequencies on our website.
