Any Beds
Any Baths
For Sale / Single Family
Advanced Search

Warrington Township Reviewing Homestead Exemption

Warrington PA Homes For SaleWarrington Township officials are reviewing a possible exemption under Pennsylvania’s Taxpayer Relief Act of 2006 (Act 1) that would allow homeowners to exempt up to 50 percent of their home’s value when calculating local real estate taxes.

WarringtonTownship Director of Finance Cassandra Williams told Warrington Township supervisors that the exemption amount is limited to half the median residential assessed property values in the township, which is just over $35,000 in 2018, and would amount to a maximum allowed exemption of $17,660. For a Warrington home at the median value, the tax bill at the current township rate would drop 50 percent, from $504 to $252. The township could opt to implement a lower amount for the homestead exemption. According to the law, the homestead label is not automatically given to every homeowner, rather it is up to every individual to register as a homestead with the county.

The law also states that the sale of a home declared a homestead does not transfer the designation to the new owner, who must file with the county assessor declaring the property as a primary residence before the exemption can be applied.

Warrington Township staff is researching the exemption in surrounding municipalities as part of its 2019 budget process. View 2018 Warrington Township Budget

Read Full Article 

, ,

No comments yet.

Leave a Reply