If you want to see a homestead exemption on your Philadelphia property tax bill next year, your application must be completed by the end of business Thursday.

 

Mayor Michael Nutter is encouraging city residents to file their homestead exemption so it will be reflected on next year's tax bills, which for the first time in years will reflect current market values.

"This is something we want everyone who is a residential property owner to fill out," the mayor said Wednesday. "It literally has four boxes and a place to sign your name. That is how easy this really is."

Nutter says the effort will pay off once new property assessments are made public.

"The present exemption under the law is $30,000," he said. "If you fill it out now, we will assure you the exemption will be reflected on your new exemption notice which we estimate that homeowners will receive in February."

You can find the application form on the city's webpage, phila.gov.