State Rep. Jim Prokopiak today testified before the House Finance Committee in support of legislation aimed at freezing property taxes for longtime homeowners.
House Bill 2536, which Prokopiak sponsored, would amend the Pennsylvania Constitution to enable the legislature to pass legislation that gives property tax relief to homeowners who have lived in their homes for at least 10 years. This is known as a Longtime Owner-Occupant Program or LOOP.
A LOOP gives property tax relief to homeowners who have lived in their homes for at least 10 years by exempting or deferring property tax increases even if their home assessment values increase in future years.
The state constitution currently allows for Philadelphia and Allegheny counties to offer a LOOP. Prokopiak’s bill would make it possible for the General Assembly to allow LOOPs statewide.
“Property tax reform is one of the biggest needs throughout the state and within my district in Bucks County,” Prokopiak said. “LOOPs help longtime homeowners stay in their homes, especially in areas where housing values are increasing, such as Lower Bucks County.”
In order for amendments to be enacted, the legislation must pass both houses of the General Assembly in consecutive sessions and then passed by the electorate.
In addition, Prokopiak also introduced H.B. 2537, which would provide additional property tax relief by creating an optional property tax freeze program for those who meet the qualifications of the Property Tax/Rent Rebate Program and have lived in their homes for at least 10 years. This bill is currently under consideration in the House Finance Committee.
House Bills 2536 and 2537 are part of Prokopiak’s legislative agenda to make housing costs more affordable. He previously introduced a pair of bills to combat the statewide shortage of affordable housing for working families.
House Bill 2491 would exempt materials used for building affordable housing from sales taxes. Currently, building materials are subject to the state sales tax, which financially burdens contractors and their customers and can be a hindrance to the building of additional affordable housing units.
House Bill 2515 would incentivize municipalities to revise their zoning in such a way that allows for more affordable housing for working families. Removing local zoning obstacles to allow for the creation of more affordable homes is a vital component in increasing the availability of affordable housing in our state, and it is essential that we provide municipalities with funding to undertake this endeavor.
These two bills are under consideration in the House Finance and Housing and Community Development committees, respectively.
“We have an attainable housing crisis throughout our state,” Prokopiak said. “What all these bills have in common is that they help address the rising cost of homeownership.”
Prokopiak represents the 140th Legislative District, which is comprised of Falls, Morrisville, Tullytown and part of Middletown in Bucks County.
Recent Comments