Amending Section 19-1301.1 of The Philadelphia Code, entitled "Homestead Exclusion," to increase the amount of the homestead exclusion, under certain terms and conditions.

Amending Section 19-1301.1 of The Philadelphia Code, entitled “Homestead Exclusion,” to increase the amount of the homestead exclusion, under certain terms and conditions. THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. Section 19-1301.1 of The Philadelphia Code is hereby amended to read as follows: § 19-1301.1. Homestead Exclusion. * * * (2.4) [Commencing in] For tax year 2025, [and continuing thereafter,] a homestead exclusion is hereby provided in the amount of one hundred thousand dollars ($100,000). (2.5) Commencing in tax year 2026, and continuing thereafter, a homestead exclusion is hereby provided in the amount of one hundred and ten thousand dollars ($110,000). * * * Explanation: [Brackets] indicate matter deleted. Italics indicate new matter added.