HARRISBURG – The PA Senate Urban Affairs Committee has advanced Senate Bill 979, known as the Reinvestment in Housing Act. The measure encourages Pennsylvanians to reinvest in their homes without facing an immediate increase in property taxes. Under current law, home improvements can trigger a reassessment, resulting in higher tax bills. The consequence often discourages homeowners from making upgrades that improve their property. The bill would prohibit a reassessment if the value of improvements is equal to or less than 20% of the home’s current assessed value. The property must be a primary residence, the homeowner must have lived in the home for at least five years, and the benefit may only be used once during the lifetime ownership of the property. It would not impact county-wide reassessments or those that occur as a result of a property sale. The bill now heads to the full PA Senate for consideration.
