Reminder: Taxpayers must reapply for the exclusion if they changed the Title to their property prior to March 1 in any qualifying year.
INSTRUCTIONS FOR PROPERTY TAX RELIEF APPLICATION FOR HOMESTEAD & FARMSTEAD EXCLUSIONSThe Taxpayer Relief Act, Act 1 of Special Session 1 of 2006, was signed into law by Governor Rendell on June 27, 2006. The law provides for property tax reduction allocations to be distributed by the Commonwealth to each school district, and the state funds must then be used to reduce local residential school property tax bills. Property tax reduction will be through a “Homestead/Farmstead exclusion.”
Under a Homestead or Farmstead property tax exclusion, the assessed value of each Homestead or Farmstead is reduced by the amount of the exclusion before the property tax is computed. Applications for the exemption are available from Bucks County and must be returned to Bucks County: