Get Homestead Exemption Addendum - Delaware County

Applicants with an annual income of $108,046 or less are given a presumption of need for the exemption. Applicants whose gross annual income exceeds $108,046 will be considered to have a financial need for the exemption when their allowable monthly expenses exceed monthly household income.

Age requirements A person aged 65 years or older, A person who lives in the same household with a spouse who is aged 65 years or older, or. A person aged 50 years or older who is a widow of someone who reached the age of 65 before passing away.

Property taxes are administered at the county level in Pennsylvania. In every county, the sum of local tax rates (school taxes, municipal taxes and county taxes) is applied to the assessed value of each property. However, each county has its own system for determining assessed value.

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 $80,000.

How Delaware Homestead Applies. As previously mentioned, homestead laws generally apply during a bankruptcy proceeding. Delaware's $125,000 homestead allotment protects that home equity from creditors. This means that if the equity invested in the home is less than $125,000, the person may not have to sell the home.

This allows senior citizens (65 or older) as well as permanently and totally disabled homeowners to reduce their real estate taxes by the amount equal to the taxes that would otherwise be charged on $25,000 of the market value of an eligible taxpayer's homestead or residence.

The homestead exclusion reduces the assessed values of homestead-approved properties, reducing the school property tax on these homes. In order to be eligible for this program, the homeowner must reside in a dwelling primarily used as their permanent home.

The income limit is $35,000 a year for homeowners and $15,000 annually for renters, and half of Social Security income is excluded. Spouses, personal representatives or estates may also file rebate claims on behalf of claimants who lived at least one day in the claim year and meet all other eligibility criteria.

Pennsylvania will continue its broad-based property tax relief in 2022-23 based on Special Session Act 1 of 2006.

Pennsylvanians can visit mypath.pa.gov to file their Property Tax/Rent Rebate Program applications. Applicants will be asked to provide specific information on their income and rent/ property taxes.