Lowest percentages of properties claiming the tax credit are in Center City, North Philadelphia
FOR IMMEDIATE RELEASE: Feb. 19, 2025
PHILADELPHIA – City Controller Christy Brady today released the latest monthly Municipal Money Matters report that examined every zip code in Philadelphia and compared the percentage per zip code of properties that claim the Homestead Exemption.
The exemption provides a $100,000 deduction from a homeowner’s assessed property value, reducing his or her property tax bill by about $1,400 for the year.
Select neighborhoods across the Northeast claimed the highest rates of Homestead Exemptions, including those in the 19154 (72%), 19115 (65%), 19114 (65%), and 19152 (61%). The Cedarbrook neighborhood in the Northwest section of the city, 19150 (65%), was also in the top five for the highest percentages of properties with the exemption.
The neighborhoods claiming the lowest rates of Homestead Exemptions included sections of North Philadelphia and Center City: 20% or less of the total properties in zip codes 19122, 19121, 19123, 19133, and 19014 claim the Homestead Exemption.
“The Homestead Exemption was implemented to give much needed tax relief to homeowners across the city,” said Controller Brady. “The purpose of our review, as it is with everything we do in the Controller’s office, is to objectively assess the efficiency and effectiveness of City expenditures.”
The Controller’s December report on the Homestead Exemption Program found that many homeowners in Philadelphia are taking advantage of the program by fraudulently claiming it, costing the City almost $11.4 million annually.
In today’s report, the Controller’s office focused on homeowners who may be eligible, but either choose not to apply for the exemption or may not know about it.
“We want to see this program used appropriately by homeowners in our city,” said Controller Brady. “The relief has potential to make a huge difference for families and individuals. It is disappointing to see folks take advantage of these programs unfairly and we encourage them to reach out to the Office of Property Assessment to turn themselves in.”
The Homestead Exemption is only available to those who own and live in their homes. The final deadline to apply for the Homestead Exemption is December 1 of each year. Property owners with a 10-year residential tax abatement are not eligible.
Visit https://controller.phila.gov/ to view the City Controller’s latest report.
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