Amending Section 19-1301.1 of The Philadelphia Code, entitled "Homestead Exclusion," to increase the amount of the homestead exclusion, under certain terms and conditions.
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Section 19-1301.1 of The Philadelphia Code is hereby amended to read as follows:
§ 19-1301.1. Homestead Exclusion.
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(2.3)
Commencing in tax year 2023, and continuing [thereafter,]
through and including tax year 2024,
a homestead exclusion is hereby provided in the amount of eighty thousand dollars ($80,000).
(2.4) Commencing in tax year 2025, and continuing thereafter, a homestead exclusion is hereby provided in the amount of one hundred thousand dollars ($100,000).
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