Did You Know?: Important information about the Homestead/Farmstead Exclusion
The Taxpayer Relief Act provides for property tax reduction allocations to be distributed by the Commonwealth to each school district. Property tax reduction will be through a “homestead or farmstead exclusion.” Generally, most owner-occupied homes and farms are eligible for property tax reduction. Only a primary residence is eligible for property tax relief.
These homestead/farmstead exclusions can lower your overall property tax bill.