Application Longtime Owner Occupants Program (Loop) - City of Philadelphia, Pennsylvania

Application Longtime Owner Occupants Program (Loop) is a legal document that was released by the Department of Revenue - City of Philadelphia, Pennsylvania - a government authority operating within Pennsylvania. The form may be used strictly within City of Philadelphia.

FAQ

Q: What is the Longtime Owner Occupants Program?A: The Longtime Owner Occupants Program (LOOP) is a program provided by the City of Philadelphia in Pennsylvania.

Q: Who is eligible for the LOOP program?A: Eligibility for the LOOP program is limited to owner-occupants who have lived in their homes for at least 10 years and whose property assessment has increased by at least 50%.

Q: What does the LOOP program provide?A: The LOOP program provides a tax relief for eligible homeowners by capping the amount of property taxes they have to pay.

Q: How does the LOOP program work?A: Under the LOOP program, eligible homeowners will have their property assessment capped at the pre-increase level for a period of 10 years.

Q: How can I apply for the LOOP program?A: To apply for the LOOP program, homeowners need to complete an application form and submit it to the City of Philadelphia's Office of Property Assessment.

Q: Is there a deadline for applying to the LOOP program?A: Yes, there is a deadline for applying to the LOOP program. Homeowners must submit their application by the deadline specified by the City of Philadelphia each year.

Q: Are there any income restrictions for the LOOP program?A: No, there are no income restrictions for the LOOP program. It is available to eligible homeowners regardless of their income level.