3 ways Philadelphia homeowners can lower their property tax bill

Philadelphia homeowners may see an increase in their property taxes next year. The City released new property value assessments in August, resulting in a citywide increase of more than 11% in home values. Mayor Cherelle Parker’s administration stated single-family residential homeowners will pay an average of $330 more on their next real estate tax bill, due March 31, 2025.

If your property value recently increased, your property taxes will too. Homeowners can apply to tax relief programs to reduce the taxable portion of their property’s assessed value. Most Philadelphia homeowners (including those with tangled titles and who aren’t on their deeds) qualify for at least one tax relief program.

Learn more about these programs and how you can apply below:

The Homestead Exemption

  • WHAT IT DOES: Saves Philadelphia homeowners $1,399 on their yearly tax bill
  • WHO QUALIFIES: Anyone who owns and occupies their home
  • DEADLINE: The final deadline to apply for the Homestead Exemption is December 1 of each year.
  • HOW TO APPLY: You can apply for the Homestead Exemption online using the Philadelphia Tax Center (must have an account). Learn more about the application process steps at phila.gov.
  • NOTE: You cannot be enrolled in both the Homestead Exemption and LOOP (see below). Look into both programs and decide which is right for you

The Longtime Owner Occupants Program (LOOP)

  • WHAT IT DOES: Limits a home’s assessment increase and locks in that assessment for as long as the homeowner remains eligible.
  • WHO QUALIFIES: Homeowners who have lived in their home for at least 10 years, whose income does not exceed $96,350 for a household of one (with higher limits for bigger households), and have seen their home’s assessed value increase by at least 50% this year OR by at least 75% over the past five years.
  • DEADLINE: The deadline to apply is September 30 of each year.
  • HOW TO APPLY: You can apply for LOOP online using the Philadelphia Tax Center (must have an account). Learn more about the application process steps at phila.gov.

The Senior Freeze

  • WHAT IT DOES: Freezes your tax bill, so the bill will not increase even when your property value does.
  • WHO QUALIFIES: Homeowners who are 65 or older (or 50+ and the widow(er) of someone 65+ when they died) with an income of less than $33,500 for a household of one or $41,500 for a household of two.
  • DEADLINE: The deadline to apply is September 30 of each year.
  • HOW TO APPLY: You can apply for The Senior Freeze online at phila.gov. Learn more about the application process here.
  • NOTE: Eligible homeowners can enroll in both the Senior Freeze and the Homestead Exemption.