Posted on: December 4, 2013
Were you one of many Philadelphians that received a recorded message from Mayor Nutter over the past week notifying you about a new program called LOOP? If so, you may be in for some good news regarding your property taxes!
Many people’s property tax assessments went through the roof under the city’s new property tax valuation system known as AVI. For some residents, specifically:
1) Those who have been in their homes for over 10 years.
2) Those whose property taxes will more than triple due to AVI.
the city is offering relief in the form of LOOP (Longtime Owner Occupants Program). To be eligible for this program you must fill out a form and be under a certain household income (illustrated on the second page of the form).
If you qualify, your tax bills will be calculated on a tripled assessment, abating anything beyond that for 10 years. For more information, and to fill out a form, please visit LOOP.
The Deadline for applying is January 15th.