A new Philadelphia real estate tax relief program is currently accepting applications. Families participating in the FORWARD Platform program might save up to $500 on real estate taxes.
The catch? They have to apply by Dec. 15.
Mayor Jim Kenney stated in a press release that the City of Philadelphia was dedicated to using this Tax Credit Program as an investment in the community. Homeowners in Philadelphia can receive financial assistance from rising real estate tax costs through the Tax Credit Program.
Philadelphia homeowners must be city residents, the property's legal owner, and its current occupant in order to qualify for the program. In addition, their property tax bill must have grown by a minimum of 50% between 2022 and 2023, and their household income must be at or below 80% of the area median income.
Homeowners in Philadelphia may apply online for the tax credit. There are 68 languages available for the portal, a press statement states.
The tax credit relief program will manage a total of $1.7 million.
Adnan Mahmud, CEO of FORWARD Platform, stated in a news release that FORWARD was honored to serve the City of Philadelphia with end-to-end programming when the city introduced its Real Estate Tax Credit Program. He continued by saying that their group was thrilled to support the City of Philadelphia's initiative to lessen the financial strain on Philadelphia homeowners.
