PASSED

The enacted measure amends Philadelphia’s real estate tax rules to create a homestead exemption that would reduce the taxable assessed value of eligible owner-occupied homes, including certain condominium and cooperative units and qualifying portions of homes. Property owners would apply to the Board of Revision of Taxes, and false applications or failure to report a change in eligibility could result in back taxes, interest, penalties, and possible criminal charges; the exemption would take effect only after authorization by the General Assembly.

Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," to provide for a homestead exemption with respect to City real property tax, under certain terms and conditions.