Residential homeowners across Philadelphia will soon receive their new property assessments from the city, and many of them will be higher than before. The assessments, which will also be posted online, will dictate how much homeowners will pay in property taxes in 2027. Homeowners who believe their valuation is inaccurate can file an appeal. The city also offers a menu of tax-relief programs designed to offset property reassessments, in addition to the option of entering into a payment agreement or installment plan. The most popular program is the homestead exemption, which is available to all homeowners, regardless of their income. Under the program, most homeowners are eligible to reduce their property assessment by $100,000. Under the Longtime Owner Occupants Program (LOOP), certain homeowners can cap their property value for as long as they remain eligible. A homeowner cannot be enrolled in LOOP and the homestead exemption at the same time. The homestead exemption provides upfront savings while LOOP provides long-term savings. There are also two programs for eligible homeowners to permanently cap their property tax bill: the age-based senior freeze and the income-based Income Real Estate Tax Freeze. Read the full article at PlanPhilly.
Source: PlanPhilly; 6/22/2026