Philadelphia has updated its property tax relief calculator. The goal is to help homeowners see an estimate of their Real Estate Tax bill with City-offered property tax assistance programs.
Visit the Property Search website to check out the new “Real Estate Tax Estimator.” It shows you how much you’ll save if you’re enrolled in the Homestead Exemption, Longtime Owner Occupants Program (LOOP), Senior Citizen Tax Freeze, or Low-income Tax Freeze.
Previously, the calculator only told you if you had Homestead and how the program affected your bill. Although it still gives you this information, it has more programs now, so you can compare the savings each program offers.
About the updated calculator
The new calculator is basically a way for homeowners to see how different programs affect their Real Estate Tax bill. It only gives you estimates. If you’re already enrolled in a relief program or tax abatement, your actual bill might be different.
It’s helpful if you’re not enrolled in a relief program but own a house in Philly. It helps you make an informed decision about what program works best for you. Each program has its own eligibility requirements.
The tool also helps you see if you qualify for LOOP based on your home’s assessment increase. Most homeowners will find this really helpful. Keep in mind that you must also meet other eligibility requirements.
More importantly, the calculator is a great tool to use if you’re unsure whether to apply for LOOP or Homestead. By law, you can’t enroll in both programs at the same time. If you need additional help navigating the available relief options, you should talk to a housing counselor.
Here’s how to estimate your bill
The updated calculator has two main dropdown menus: one for selecting the applicable assessment year, and one for selecting relief programs. If you choose “Senior Citizen Tax Freeze,” a third dropdown menu will appear. It’s for calculating retroactive benefits based on your eligibility year.
You can estimate your bill in three simple steps:
- Visit property.phila.gov
- Enter your address in the search bar and select the magnifying glass. Make sure your address is correct.
- Find the “Real Estate Tax Estimator” in the middle of the page and use the dropdown menu to compare and visualize your bill.
The programs at a glance
Philadelphia offers several property tax relief programs for qualifying homeowners. One of them is the Homestead Exemption, which reduces your home’s taxable value by $100,000 a year. That means that most homeowners will save $1399 on their taxes starting in 2025.
There’s also the Longtime Owner Occupant Program (LOOP), which caps your home’s assessed value at a certain amount for as long as you remain eligible.
Then there’s the Senior Tax Freeze and the Low-income Tax Freeze. Both programs help vulnerable homeowners freeze their bills, so they stay the same every year. The Senior Tax Freeze has an age requirement and retroactive benefits, but the Low-income Tax Freeze doesn’t.
