Cheltenham Township Local Income Tax: Understanding the Property Tax Relief Options

As a resident of Cheltenham Township, it's essential to understand how you can benefit from property tax relief. The township offers several programs designed to help homeowners and farmers reduce their property taxes. In this article, we'll explore the key aspects of the homestead or farmstead exclusion and other property tax reduction options.

Only a primary residence is eligible for property tax relief under the homestead or farmstead exclusion. This means that owner-occupied homes and farms are generally qualified for property tax reduction. The Taxpayer Relief Act, signed into law on June 27, 2006, provides for property tax reduction allocations to be distributed by the Commonwealth to each school district.

The township has implemented various programs to support community development, weatherization assistance, opportunity scholarships, educational improvements, and certified economic development organizations. These initiatives are funded through a combination of federal grants and local funding.

In addition to the homestead or farmstead exclusion, Cheltenham Township offers other property tax relief options:

* Community Development Block Grant (CDBG): This program provides funding for community development projects, such as infrastructure improvements and public facilities.

* Weatherization Assistance Program (WAP): This program helps low-income households reduce their energy consumption by providing weatherization services, including insulation and window replacement.

* Opportunity Scholarship Tax Credit Program (OSTC): This program provides tax credits to eligible families who participate in private school scholarship programs.

* Educational Improvement Tax Credit Program (EITC): This program offers tax credits to businesses that contribute to educational improvement initiatives.

Quality Assurance & Operational Support: This program focuses on providing support services for the township's operations, including administrative and technical assistance.

Certified Economic Development Organizations: The township partners with certified economic development organizations to promote business growth and job creation in the area.

In conclusion, Cheltenham Township offers various property tax relief options through the homestead or farmstead exclusion and other programs. By understanding these options, homeowners and farmers can reduce their property taxes and contribute to the community's growth and development.

Cheltenham township local income tax