City of Philadelphia Real Estate Tax
Philadelphia’s Real Estate Tax is a form of taxation placed upon residential and commercial properties located in the City of Philadelphia. The imposed tax is based on a percentage of a property’s assessed value.
What is the Real Estate Tax Rate?
The actual rate that is applied differs depending on the type of property and its location within the city. Generally, the rate is 1.4581 or 1.4992 percent of the assessed value of the property.
How is the Real Estate Tax Calculated?
The City of Philadelphia calculates the real estate tax by multiplying the property’s assessed value by the applicable tax rate.
Exemptions and Credits
Some homeowners and property owners may be able to qualify for a tax exemption or credit on the property taxes due. This can depend on the type of property, the owners and the location.
The City of Philadelphia offers several payment options to those that are responsible for paying the real estate tax. These options may include:
- Paying in Full: The entire amount of the real estate tax can be paid in a single payment.
- Annual Payment Plan: Taxes can also be paid in up to three installments, with due dates set for April s, June 30 and September 30, respectively.
- Installment Payment Plan: Taxes can be paid in up to eighteen (18) installments, with due dates set for the first and fifteenth of each month from January through December.
The City of Philadelphia provides the above payment options to assist homeowners and property owners in managing their taxes due.
For more information regarding Philadelphia’s real estate tax, including exemptions and credits, details regarding tax assessments, filing options and other related topics, visit the City of Philadelphia’s official tax website at http://www.phila.gov/Revenue/.