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Kahleah Manigault
  • Philadelphia
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10 year tax abatement

Kahleah Manigault
  • Philadelphia
Posted

Hey all, so I had my HUD consultant come by today for the final draw request of my 203K on a duplex. He mentioned that I should look into the 10 year tax abatement. We started this project 11/2019. Is it too late for me to apply? :(

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Caroline Gerardo
  • Lender
  • Washington DC
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Caroline Gerardo
  • Lender
  • Washington DC
Replied

Is it deteriorated industrial, commercial, or business properties?  10 year is a benefit do apply
abatements under State Act 175 or Ordinance 961, submit by December 31st of the year that the building permit is issued. abatements under Ordinance 1130 or Ordinance 1456-A, submit within sixty days of the date when the building permit is issued.

If residential it's 30 months 

When was permit filed? That's when residential starts

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