What is a homestead exemption program?

A homestead exemption program is a type of tax relief program in Pennsylvania, which helps eligible homeowners lower the amount of property taxes they are required to pay by providing an exemption or reduction of up to 100 percent. This exemption applies to a primary residence and qualifies for this program if it is owned and occupied as the owner’s primary residence. Under this program, the amount of taxes that are exempted from the homeowner’s property tax bill is based on the percentage of the exemption, set by the state and the county. The homestead exemption program provides assistance to those who need it most. It is available to all homeowners, regardless of their income level. Homeowners who qualify will receive a pro-rated exemption amount, determined by the property’s market value and the assessed value. Since the exemption amount is pro-rated, those with higher market values stand to save more on their property taxes than those with lower market values. In Pennsylvania, the homestead exemption program is administered by local assessing offices in each county. To qualify for the homestead exemption program in Pennsylvania, homeowners must meet certain criteria, such as living in the state for at least one year prior to the exemption date. In addition, the owner must occupy the property as their primary residence, and the property must be owned and occupied by the same person or persons. The homestead exemption program is an important tool for providing financial relief for homeowners in Pennsylvania. It helps those with low incomes stay in their homes and provides relief to those with greater financial needs.

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What is a homestead exemption program?

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