Philadelphia Real Estate Taxes are due March 31, and so are applications for programs that can help lower your payment
The Real Estate Tax Deferral program allows Philadelphia homeowners whose 2017 Real Estate Taxes have increase by more than 15%, to defer the amount that is above the 15%. Income guidelines apply. Applicants must use the property as their primary residence. Also, all real estate taxes on the property must be current or under a payment agreement. The deadline to apply is March 31.
Homeowners can defer the excess amount until transfer or sale of the property. But, an annual interest rate of at least 2% will apply to the deferred amount.
The Real Estate Installment Program allows homeowners who own and live in their homes to pay their annual Real Estate Taxes in monthly installments with no penalties or interest. Income guidelines apply. However, all senior citizens 65 years or older are eligible, regardless of income.
Don’t miss these other Real Estate Tax programs that help save you money:
- Homestead Exemption – reduces the assessed value of a property by $30,000 (Deadline to apply: September 13)
- Low Income Senior Citizen Real Estate Tax Freeze Program – homeowners who are 65 years or older and own and live in their homes may be eligible to have their taxes frozen so that they will not increase. Income guidelines apply. (Deadline to apply: September 13)
- Owner-Occupied Real Estate Payment Agreement Program – allows those who own and live in their homes to make monthly payments on delinquent taxes. Payments are based on household income and family size. Apply anytime.
- Real Estate Tax Credit for Active Duty Reserve and National Guard – provides a tax credit for members called to active duty outside of Pennsylvania.