New tax relief program offers Philadelphia homeowners assistance amid increased property values

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PHILADELPHIA (KYW Newsradio) — The City of Philadelphia has partnered with FORWARD, a program administration firm for local governments, to launch a Real Estate Tax Credit Program.

About $1.7 million in tax credits has been allocated through a special fund to support Philadelphia homeowners with increasing real estate tax bills. City Councilmember At-Large Katherine Gilmore Richardson said the Real Estate Tax Credit Program will give them a one-time credit of up to $500.

“The money will be used to pay either [their] 2023 or 2024 tax bill, or it will be added to their real estate tax account as a credit toward future tax years,” she explained.

Eligible homeowners must be located in Philadelphia and meet 80% or below the area median income. Residents’ property bills must have also increased by 50% or more between the 2022 and 2023 tax assessment year.

“What we’ve sought to do is come up with and create another opportunity to ensure that we’re providing tax relief in a time when our groceries are higher, our utility bills are higher, and when we all need some relief, particularly during the holiday season,” Gilmore Richardson said.

FORWARD is hosting a series of online workshops for Philadelphia residents to learn more about the program. The next webinars will be held Monday, Nov. 20 at 7 p.m. and Tuesday, Nov. 21 at noon.

The application and more information can be found here. The deadline to apply is Dec. 15.

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