Solty Real Estate

Zura has 13 years of experience in real estate, has sold dozens of properties, and knows the Philadelphia market inside and out! 🏡💼

🏠 Big news for Philadelphia homeowners! Property taxes have changed! 📉 Read the update and learn how to lower your taxes! 💸
📈 In Philadelphia, property taxes for 2025 are set to increase following a reassessment, leading to an average rise of 💵 $330. This change is part of the city's effort to ensure fair ⚖️, equitable, and accurate valuation of properties 🏠. The reassessment covers all property types, including 🏡 residential, 🏢 commercial, 🏭 industrial, and 🏛️ institutional buildings. The new assessments will take effect on 📅 January 1, 2025, and the taxes based on these new values will be due by 🗓️ March 31, 2025.

💸 Tax Relief Programs: Several programs are available to help homeowners 🏘️ reduce their property tax bills. The most widely used program is the Homestead Exemption, which decreases the assessed value of primary residences 🏡, allowing homeowners to save an average of 💲$1,399 in taxes. The application deadline for this program is 📆 December 1, 2024.

🔔 Additionally, there is a new tax freeze 🥶 program for low-income homeowners, which allows those earning less than 💲33,500 annually (individually) or 💲41,500 (as a combined household income) to freeze their tax bills at the previous year's rate. 📄 Applications for this program are expected to be available this fall 🍂.

This information was published on 📆 September 30, 2024.

🔗 Source: Phila.gov

📢📣FIVE ADVICE FOR SELLERS🏠

1.Price it competitively: Research local market prices and set a realistic listing price.

2.Boost curb appeal: Make the exterior look inviting with repairs and landscaping.

3.Stage and declutter: Remove personal items and consider professional staging.

4.Market effectively: Use a real estate agent for online listings and high-quality photos.

5.Be flexible and responsive: Accommodate buyer schedules and respond promptly to inquiries and offers.