Tax Abatement
Detailed tool and analysis for Tax Abatement in Philadelphia.
Historical Data Table
| Year of Abatement (New Residential) | Percent Abated |
|---|---|
| Year 1 | 100% |
| Year 5 | 60% |
| Year 10 | 10% |
Frequently Asked Questions
Does the abatement apply to the land?
No, the abatement only applies to the assessed value of the *improvements* (the structure itself).
Can I transfer the abatement when I sell?
Yes, the remaining years transfer to the new owner.
Common Mistakes
- Failing to apply for the abatement within 60 days of the building permit issuance.
- Assuming commercial properties follow the exact same phase-out schedule as residential (they differ).