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File #: 190317    Version: Name:
Type: Bill Status: ENACTED
File created: 4/25/2019 In control: CITY COUNCIL
On agenda: Final action: 6/13/2019
Title: 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.
Sponsors: Councilmember O'Neill, Councilmember Henon, Councilmember Taubenberger, Councilmember Squilla, Councilmember Bass, Councilmember Oh, Councilmember Quiñones Sánchez, Councilmember Blackwell, Councilmember Jones, Councilmember Johnson, Council President Clarke
Indexes: HOMESTEAD EXCLUSION
Code sections: 19-1301 - Real Estate Taxes, 19-1301.1 - Homestead Exclusion
Attachments: 1. CertifiedCopy19031701.pdf

Title

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.

 

Body

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)                     Commencing in tax year 2014, through and including tax year 2018, a homestead exclusion is hereby provided in the lesser amount of (A) thirty thousand dollars ($30,000) multiplied by the established predetermined ratio; or (B) fifty percent (50%) of the median assessed value of properties granted a homestead exemption, as certified by the OPA by no later than November 15 of the year prior to the tax year.

 

(2.1)                     [Commencing in] For tax year 2019, [and continuing thereafter,] a homestead exclusion is hereby provided in the amount of forty thousand dollars ($40,000).

 

(2.2)                     Commencing in tax year 2020, and continuing thereafter, a homestead exclusion is hereby provided in the amount of forty-five thousand dollars ($45,000).

 

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Explanation:

 

[Brackets] indicate matter deleted.

Italics indicate new matter added.

 

End