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File #: 200012    Version: 0 Name:
Type: Bill Status: IN COMMITTEE
File created: 1/23/2020 In control: Committee on Finance
On agenda: Final action:
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 Johnson, Councilmember Gym, Councilmember Bass, Councilmember Quiñones Sánchez, Council President Clarke, Councilmember Jones, Councilmember Parker, Councilmember Domb, Councilmember Green, Councilmember Oh, Councilmember Henon, Councilmember Squilla, Councilmember O'Neill, Councilmember Brooks, Councilmember Gilmore Richardson
Indexes: HOMESTEAD EXEMPTION
Attachments: 1. Bill No. 20001200.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)                     For tax year 2019, a homestead exclusion is hereby provided in the amount of forty thousand dollars ($40,000).

 

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

 

                     (2.3)                     Commencing in tax year 2021, and continuing thereafter, a homestead exclusion is hereby provided in the amount of fifty thousand dollars ($50,000).

 

 

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Explanation:

[Brackets] indicate matter deleted.

Italics indicate new matter added.

 

End