In a solidifying move for Pittsburgh homeowners, the city celebrates enacting the Longtime Owner Occupant Tax Exemption Program (LOOP), designed to shield long-term residents from the financial strain of rising property taxes due to neighborhood gentrification. State Senator Jay Costa, County Executive Sara Innamorato, and Mayor Ed Gainey have championed this new legislation, formally known as Act 53 of 2024, as the City of Pittsburgh press release reported.

LOOP arrives as a beacon for residents to continue to afford to live in the places they have long called home. Notably, it allows Mayor Gainey and the City Council to either exempt or potentially defer the property tax hikes that threaten to displace owner-occupants who have weathered the evolution of their neighborhoods over a significant period. This governmental action seems to preserve the socio-economic fabric of rapidly transitioning Pittsburgh communities.

Senator Costa led the charge in the State Senate and was quoted celebrating the legislative win, “I am delighted to be celebrating the passage of LOOP with so many leaders who share in the core belief that the people who built our communities belong in our communities," as per an announcement made on his official website, detailed by the city's press release. Costa expressed gratitude for the bipartisan support, marking the success as a step towards more in this ongoing process.

According to the city's press release, Mayor Gainey underscored Pittsburgh's sense of community. "I'm proud to support this legislation that will help keep people in the houses they made into homes," Gainey asserted. He elaborated on the necessity of such programs to ensure no resident is pushed out due to development-driven neighborhood transformations. These comments were echoed by County Executive Innamorato, who emphasized the significance of protective policies for long-term residents amid embracing new investment in the region.