Cozen O’Connor: Philadelphia Reduces Requirements for Certifications for Continued Real Estate Tax Exemptions [Tax Alert]

Philadelphia Reduces Requirements for Certifications for Continued Real Estate Tax Exemptions

Tax Alert

March 25, 2015

The Philadelphia Office of Property Assessment (OPA) recently mailed notices to each owner of property listed as tax exempt on the OPA’s records indicating that the owner must file a form to certify that the property continues to be entitled to exemption. The OPA due date for filing the form was listed as March 31, 2015. The OPA stated that a multitude of supporting documents – including such things as the property owner’s articles of incorporation and bylaws, most recent income and expense statements, balance sheet and filed federal Form 990, IRS letter of determination of exemption under IRC Section 501(c)(3), and the recorded deed for the property – had to be submitted with the certification form.

The OPA recently announced that the due date for the filing of the certification form has been extended until June 1, 2015. In addition, the supporting documentation to be attached to the certification form has been limited to the property owner’s IRS letter of determination of exemption under IRC Section 501(c)(3).


Authors

Joseph C. Bright

Member

jbright@cozen.com

(215) 665-2053

Dan A. Schulder

Member

dschulder@cozen.com

(717) 703-5905

Cheryl A. Upham

Member

cupham@cozen.com

(215) 665-4193

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Cozen O’Connor’s state and local tax attorneys are well versed in the required tax exemption certification process and the requirements for continued exemption. To discuss any questions you may have regarding the process and requirements and how they apply to your particular circumstances, please contact any of Cozen O’Connor’s state and local tax attorneys.