How Philadelphia's 10-Year Tax Abatement Actually Works

Think every Philly tax abatement works the same way? It doesn't — here's the difference between the full and graduated 10-year abatement. If you're buying a home in Philadelphia with a tax abatement, there's a good chance you don't actually know which kind you have — and that mistake can cost you thousands more than you're expecting. In this video, I break down exactly how Philadelphia's 10-year property tax abatement works: the full abatement (100% off your building value for all 10 years), the graduated abatement (starting at 100% and stepping down 10% a year starting in year two), and which one applies depending on whether you're buying new construction or a rehab. Use this website to find out if a property has an abatement 👇 https://property.phila.gov/ If you're looking at a property with an abatement and want help figuring out exactly which type it has and what your real tax bill looks like over time, reach out through my website — link below 👇 — I run this exact breakdown for buyers all the time. 📅 To schedule a call or zoom, reach out through my website: Website: https://emilyterpakgroup.com/contact-us https://emilyterpakgroup.com/10things... 📍 Philadelphia | Main Line | South Jersey Real Estate 🏡 Emily Terpak, Realtor @ Compass Subscribe for weekly videos about the Greater Philadelphia Area Follow me on Instagram:   / homewithemilyt   CHAPTERS: 00:00 Intro 00:48 Why It Got Started 01:51 Full 10-yr Tax Abatement 04:00 What Website I Use 04:11 Graduated 10-yr Tax Abatement 05:40 Taxes on Your Land 07:10 RECAP