Philadelphia homeowners have a very short time to sign up for a new tax relief measure.
About 80,000 letters are being mailed out to homeowners the city believes qualify for the LOOP program. LOOP is short for Longtime Owner Occupant Program.
Mayor Michael Nutter says to qualify, homeowners must meet income and primary residence requirements among other things.
“In the FY14 budget we have set aside $20 million for additional relief programs to help longtime homeowners who are facing steep increases under the actual value initiative.”
The mayor says because it took so long for the state to approve income based tax breaks, people need to complete the applications as soon as they arrive.
“Applications for LOOP must be received by January 15, 2014. Pre-filled out applications are in the packet that is already in the mail.”
All applicants will have to do is verify the information and sign.
City Council is trying to extend that deadline, but even if it passes the bill the mayor is not committing to signing it.