AVI - Update: "LOOP" - Application Deadline Now Feb 17
Extended LOOP Deadline; Installment Tax Payments
The City has extended the deadline to submit LOOP (gentrification protection) applications by a month, to February 17.In addition, the state has just made it legal for the City to allow payment of property tax bills in installments. When the City decides how to do that, we will let everyone know.For more info on LOOP, click
HERE.
The City of Philadelphia has officially begun taking applications for LOOP,the Longtime Owner Occupants Program.
LOOP (formerly known as Gentrification Protection) caps your property tax bill for the next 10 years.To be eligible for LOOP, you must:
- Own and have lived in the property as your primary residence since at least July 1, 2003.
- Live in either a single family or a multi-unit property with no more than three residential units and one commercial unit.
- Have not received a tax abatement.
- Be up to date on your property tax payments for previous years (or in a payment plan).
- Have annual income below a certain level (about $84k for a person living alone; about $92k for a couple; and about $110k for a household of four)
The City has identified property owners potentially eligible for LOOP, and applications are currently in the mail. Filled-out applications are now due back to the City by Feb 17, 2014.To get more information, determine eligibility, or fill out at online version of the application, click on the image above, or visit http://www.phila.gov/loop/