Councilman Proposes Extending Anti-Gentrification Tax Break

LOOP program helps longtime owners in areas where property values are rising.

NewsWorks reports that Councilman Kenyatta Johnson is proposing to extend the LOOP program, a tax break for longtime owners of houses in areas of Philly where property values are rising.

Currently, city residents can participate in the Longtime Owner-Occupants Program (LOOP) if they’ve owned their homes for more than a decade and had their property tax assessment more than triple between the 2013 and 2014 tax years. (In this calculation, one must subtract the $30,000 value of the city’s homestead exemption from the 2014 assessment.)

For eligible residents, the tax break caps a house’s assessment at three times its original amount for 10 years.


Under a new bill sponsored by Johnson, the assessment would stay capped until a home is sold or transferred to another owner.

Johnson said the cost of extending the break would be "relatively inexpensive" for the city.

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  • DTurner

    Maybe that money would be better spent attracting jobs to the city?

    Also, given the City’s general accounting incompetence, how on earth would it accurately track the sale and transfer of homes throughout the city?

    This sounds good on paper, but would likely reverse the City’s meager progress towards improving property tax collection.

  • Rashad Johnson

    City hall is beginning to realize that the low information voters they rely so heavily on are being pushed out , soon there will be a new sheriff in town.