Governor Edward G. Rendell signed Special Session Act 1 of 2006, the Taxpayer Relief Act, on June 27, 2006. This law will ease the financial burden of home ownership by providing school districts the means to lower property taxes to homeowners via the funding provided by gaming revenue.
In order to be eligible for a property tax reduction, you must have applied for and been approved by the county assessment office for the homestead or farmstead exclusion by March 1st. If you are a new resident or have not previously applied for the Homestead/Farmstead Exclusion, please contact the Chester County Assessment Office at 610-344-6105.
Under a homestead or farmstead property tax exclusion, the assessed value of each homestead or farmstead is reduced by the same amount before the property tax is computed.
Real Estate Assessed Value Reduction $8,859
Real Estate Tax Reduction $273.21