By Mike DeNardo

PHILADELPHIA (CBS) – The city has started to send out homestead exemption forms that could save taxpayers some money, just not right away.

Fill it out and send it in, and it should save you money on your real estate taxes.

That’s the message from Mayor Nutter, who says the city has begun mailing out homestead exemption forms. The exemption would shave $30,000 off of a property’s taxable assessment.

But you have to fill out the form, says Mayor Nutter.

“You need to submit your homestead application by November 15, 2012. The exemption will then be noted on your 2014 tax assessment change notices.”

If you’ve already filled out an exemption form online or on paper, Nutter says you don’t have to do it again.

The exemption is part of the administration’s effort to ease the tax impact on homeowners, should Council adopt the mayor’s Actual Value assessment Initiative.

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