Philadelphia City Council has passed a bill extending a program often called “gentrification protection.”
The Longtime Owner Occupants Program, also known as LOOP, has given Philadelphia homeowners a cap on their property taxes, which rose dramatically after a citywide reassessment in 2013.
Originally, that cap was supposed to last for just 10 years, but under a bill passed by City Council Thursday, the break will now extend for the life of the homeowner or until that person moves away.
Councilman Kenyatta Johnson, who introduced the legislation, said many of his constituents in South Philadelphia are worried about being pushed out of their communities.
“This is the opportunity to provide them an opportunity to stay within their homes,” he said.
The measure also gives longtime homeowners another year to sign up for the program.
Johnson said his office is planning to go door-to-door and hold information sessions in his district to help more eligible residents participate.
The bill now goes to Mayor Jim Kenney for his consideration.