Overview of Philadelphia Real Estate Tax
Philadelphia real estate tax is levied on all the real estate properties in the state. The Board of Revision of Taxes is the supreme authority of real estate taxation in the state. They decide on the worth of the real estate property that is to be subjected to taxation.Philadelphia Real Estate Tax Bills
The real estate tax bills in the state of Philadelphia are sent to the taxpayers on the month of December, every year. The authorities sent the respective mortgage company the tax bill if the taxpayer’s real estate property has been acquired on a mortgage. Upon receiving the bills the mortgage companies are entitled to make the payments from the escrow funds.Philadelphia Real Estate Tax Payment
The real estate tax bills in Philadelphia are to be paid by the 31st of March. The taxpayers, who make their payments before the last day of February, are eligible to receive 1% discount on their payments. If the taxpayers pay their bills after the stipulated date he would incur “additions”.The “additions” are charges, which are accounted at the end of each year and based on these the delinquent taxpayer might need to pay extra interest or fines.
Philadelphia Real Estate Tax Payment Plans
The state of Philadelphia has announced two plans in order to benefit special categories of taxpayers who have lower household earnings. The first plan is designed to benefit those senior citizens who fit the criteria set for receiving the benefits.Citizens of Philadelphia, who are not amongst its senior members, could still be eligible for these benefits provided they meet the specified levels. They stand to avail the installment plans being provided by the commonwealth for helping such tax payers.
The state of Philadelphia is trying to provide the elder citizen of the state a semblance of tax relief by offering them discounts on the same.
