LOOP, the Longtime Owner Occupants Program, is aimed at owners who’ve been in one home for ten or more years and whose assessments more than tripled after the citywide reassessment.
Jennifer Schultz, of Community Legal Services of Philadelphia, testified that the new assessment system known as “AVI” (Actual Value Initiative) left many homeowners confused and scared.
The LOOP program is aimed at residents who’ve been in the same home for more than a decade, and whose assessments have more than tripled.
It is the second major relief program to result from the new property assessments that were mailed out earlier this year, for tax bills that are due early next year.
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