Philadelphia Use & Occupancy Tax Rate Change Effective July 1, 2015


Philadelphia Use & Occupancy Tax Rate Change Effective July 1, 2015

Philadelphia Use and Occupancy Tax as of July 1, 2015

Philadelphia has just increased its Use and Occupancy Tax as of July 1, 2015. The new Use & Occupancy Tax rate will be 1.21%. This is an increase from the prior rate of 1.13%.

This new rate will be effective with the July 2015 Use & Occupancy tax Return that is due July 27, 2015.  Remember that as of January 2015, all U&O tax returns must be filed and paid on-line through the Philadelphia Department of Revenue website.  So when filing in July, 2015 be aware of this increased tax rate and resulting tax increase.

Assessment Exemption: Also, beginning July 1, 2015,  the assessment exemption will be reduced to $165,300 from the prior exemption of $177,000 that had been in place since July, 2013.  It is important to understand that with the new tax rate and the new reduced assessed value for Use & Occupancy Tax, this is merely a mathematical adjustment as the annual Use & Occupancy Tax exemption will remain at $2,000 ($167 per month).

The discount for landlords remains at one percent (1%).

Please call our office if you need assistance.

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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.

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