Pa Homestead Exemption For Seniors In King
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FAQ
Homeowners should contact their county assessment office (position 48) for a copy of their county's homestead and farmstead application form. The March 1 application deadline for property tax relief is set in the Homeowner Tax Relief Act (Section 341 of Act 72 of 2004).
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.
The Treasurer's Office administrates Act 77, Senior Citizen Tax Relief, which entitles qualified senior citizen homeowners to a flat 30% discount on the real estate tax on their primary residence.
Here's how a homestead exemption can translate to savings. A homestead valued at $400,000, taxed at 1%, is eligible for an exemption of $50,000. The property's taxable value will be $350,000, and the tax bill $3,500. Without the exemption, the property tax bill would be $4,000.
Qualifying homeowners can get a 35% exemption of the assessed value of a home up to $600,000 (25% for homes over $600,000). Additional deductions are available for seniors, veterans, disabled persons, rehabilitations, and mortgages.
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.
The program's recent expansion became effective on January 16, 2024, when the new claim season opened. The rebate program is open to eligible Pennsylvanians age 65 and older, widows and widowers age 50 and older, and individuals with disabilities age 18 and older.
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.
