READ AND PASSED

The enacted measure changes Philadelphia’s real estate tax rules to allow eligible owner-occupants to defer all or part of a tax increase greater than 15% when paying it would cause financial hardship. Eligibility is based on household income, expenses, and available assets, with special thresholds for lower-income households; deferred taxes carry interest, remain a lien on the property, and generally must be paid when the property is transferred or sold.

Amending Chapter 19-1300 of The Philadelphia Code, entitled "Real Estate Taxes," by further providing for deferrals for taxpayers experiencing significant increases in their real estate taxes, under certain terms and conditions.