How do I know the taxable value of a homestead?

Contact your local Property Tax Office and ask them for the appraised value of your homestead property - that would be the "taxable value" of your homestead property. You would also see this value on your annual property tax statement.

How much does the Homestead Exemption save you in PA?

The Homestead Exemption reduces the taxable portion of your property's assessed value. With this exemption, the property's assessed value is reduced by $100,000. Most homeowners will save about $1,399 a year on their Real Estate Tax bill starting in 2025.

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Legal Letters
Sample Letter for Change of Venue and Request for Homestead Exemption

Homestead Act Information For Property Taxes In Pennsylvania

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Letters - Legal - Venue

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US-0032LTR

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Letter from attorney to opposing counsel requesting documentation concerning homestead exemption for change of venue motion.

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FAQ

Contact your local Property Tax Office and ask them for the appraised value of your homestead property - that would be the "taxable value" of your homestead property. You would also see this value on your annual property tax statement.

You can check your local assessor or municipality's website, or call the tax office for a more exact figure for your home. You can also search by state, county, and ZIP code on publicrecordsronline.

The homestead property includes the land under the dwelling, as long as it is owned by the same person who owns the dwelling. The formal definition of property is the same as that used for determining residence status for the earned income tax.

Answer: The taxable value is the value on which property taxes are calculated. It can be found on the property tax statement or by contacting the local assessor.

Older adults and people with disabilities 18 and older in Pennsylvania may be eligible to receive up to $1,000 in rebates.

The Homestead Exemption reduces the taxable portion of your property's assessed value. With this exemption, the property's assessed value is reduced by $100,000. Most homeowners will save about $1,399 a year on their Real Estate Tax bill starting in 2025.

Must be age 60 or older, or, if married, either spouse must be age 60; or be a widow or widower age 50 to 60 years; or permanently disabled and age 18 to 60 years. The applicant must meet the required age by end of the year of application.

In some cases, a local government will assess taxes on only a percentage of the value of the property. To calculate the assessed value when a local government uses such a percentage, you'll have to take the property's fair market value and multiply it by the chosen percentage.

The market value of your home multiplied by the assessment ratio in your area equals the assessed value of your property for tax purposes. The assessment of your property will depend on your county's practices.

If you own your primary residence, you are eligible for the Homestead Exemption on your Real Estate Tax. The Homestead Exemption reduces the taxable portion of your property's assessed value. With this exemption, the property's assessed value is reduced by $100,000.

More info

The Taxpayer Relief Act provides for property tax reduction allocations to be distributed to school districts through a "homestead or farmstead exclusion." To receive a homestead or farmstead exclusion, a Pennsylvania resident must submit an application to the county assessor prior to March 1.Categories, Property Tax Collector Forms. You can confirm whether your property currently has the homestead exemption using the calculator on the Property Search website. Description: Use this form to apply for the Homestead Exemption on your Real Estate Tax. Released: January 16, 2024, Format: PDF. The filing deadline for qualified applicants to receive consideration for a Homestead exemption for property taxes is March 1. The Homeowner Tax Relief Act applications will be mailed prior December 31. Fill in the address of the property for which you are seeking an exclusion. Either type of property tax reduction will be through a "homestead or farmstead exclusion.

Homestead Act Information For Property Taxes In Pennsylvania

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FAQ

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How does the homestead Act work in PA?

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