Homestead Act Information For Property Taxes In Pennsylvania
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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.
