Pennsylvania § 8575 - Tax deferral.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 8575 — Tax deferral., with citation guidance and answers to common questions.
§ 8575. Tax deferral.
(a) Amount.--An annual real estate tax deferral granted under this subchapter shall equal the increase in real property taxes upon the homestead of the claimant.
(b) Prohibition.--No tax deferrals shall be granted if the total amount of deferred taxes plus the total amount of all other unsatisfied liens on the homestead of the claimant plus the outstanding principal on any and all mortgages on the homestead exceeds 85% of the market value of the homestead or if the outstanding principal on any and all mortgages on the homestead exceeds 70% of the market value of the homestead. Market value shall equal assessed value divided by the common level ratio as most recently determined by the State Tax Equalization Board for the county in which the property is located.
Frequently Asked Questions About Pennsylvania § 8575
What does Pennsylvania Consolidated Statutes § 8575 cover?
Section 8575 ("Tax deferral.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 8575?
A common citation format is "Pennsylvania Consolidated Statutes § 8575" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 8575 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.