Real estate tax relief program for Philadelphia homeowners now taking applications
PHILADELPHIA (CBS) -- Applications are now open for a new real estate tax relief program in Philadelphia.
The program -- called FORWARD Platform -- will allow families to save up to $500 on their real estate taxes.
The catch? They have to apply by Dec. 15.
"The City of Philadelphia is committed to investing in the community of Philadelphia through this Tax Credit Program," Mayor Jim Kenney said in a news release. "This Tax Credit Program allows Philadelphia homeowners to find financial relief from increasing real estate tax bills."
In order to be eligible for the program, Philadelphia homeowners must live within the city and be the legal owner and current resident of the property. Plus, their household income must be at or below 80% of the area median income and their property tax bill must have increased by at least 50% between 2022 and 2023.
Philadelphia homeowners can apply for the tax credit online. The portal is available in 68 languages, according to a news release.
In total, $1.7 million will be administered through the tax credit relief program.
"FORWARD is proud to provide end-to-end programming support to the City of Philadelphia as the City launches its Real Estate Tax Credit Program," FORWARD Platform CEO Adnan Mahmud said in a news release. "Our team is excited to be a part of the City of Philadelphia's commitment to reduce the financial burden placed on Philadelphia homeowners."