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PRESERVATION INITIATIVE
In December 2022, City Council President Darrell Clarke and I were joined by housing officials and advocates to break ground in Grays Ferry on the first of 1,000 affordable homes scheduled for construction and sale citywide to qualifying Philadelphians under the “Turn The Key” program funded through Council’s Neighborhood Preservation Initiative (NPI).
The first group of 25 homes are being built at 30th & Wharton Streets and will cost $230,000 to purchase. NPI’s Mortgage Affordability Program will offer loans of up to $75,000 (subject to household income) to help further reduce the homes’ cost. These homes will be new, energy-efficient, 3 bedroom, 1½ bath homes on publicly-owned city land.
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I am happy that the groundbreaking of the first 25 homes to be built under Turn the Key took place in the Second District. Philadelphia has experienced a development boom in recent years and it is important to make sure that we make housing available for citizens of Philadelphia – regardless of their checkbook or pocketbook.
The goal is for the first 25 houses to be built and ready to be occupied by the summer of 2023.
Philadelphia Mayor Jim Kenney signed my “Save Our Homes” Tax Relief plan into law in 2022. It was introduced in May 2022, was approved a month later, and provided significant relief for homeowners affected by the recent tax assessments.
Starting with Tax Year 2023, the City’s Homestead Exemption will rise from $45,000 up to $80,000. This means $80,000 of a property’s assessed value will be exempt from property taxes. This change will be reflected in this year’s tax bills.
For a Philadelphia homeowner, the increase in the Homestead Exemption to $80,000 means most homeowners will have an annual savings of about $1,119 on 2023’s property taxes, an increase over 2022’s $629.
Save Our Homes also expanded the eligibility to participate in the Senior Citizen Property Tax Freeze and Longtime Owner Occupants Programs; expanded rental assistance by allocating $30 million over two years; expanded community outreach by allocating over $4 million for taxpayer awareness and assistance programs; and allocated $1 million for anti-displacement legal services for low-income Philadelphians involved in landlord-tenant disputes and other matters exacerbated by the increased assessments.
