The Philly Shop and Earn Card (PSEC) Program
FREQUENTLY ASKED QUESTIONS?…
What is the Property Tax Credit Reward (PTCR) program?
The PTCR program is a Shop Locally Economic Development Initiative that provides property tax dollars as an incentive for residents to shop in the City. This program allows a portion of a shopper’s normal purchasing dollars, spent on goods and services, to be applied to their property tax bill – thereby reducing their taxes at the end of the tax year or they can opt to receive a Rebate check.
Through a Public-Private Partnership between the City of Philadelphia and IMSP, Inc / Fincredit, Inc., the program will be presented as the “The Philly Shop and Earn Card (PSEC) Program.”
Who Can Get the Card?
The PSEC (a swipe card) will be available to all residents and anyone interested in participating in the program. After registering their card, cardholders can start shopping at local participating merchants and accumulate property tax credits towards their tax bill or a Rebate check.
Where to Get the Card?
Cards will be made available at distribution locations throughout the Philadelphia area and by registering online. The PSEC is FREE for all residents and any non-residents interested in participating in the program and the PSEC does not expire. You can find a list of local participating merchants/businesses here on our website coming soon.
How does the Transaction Process work?
The following process would represent a typical transaction indicating how the program work:
1. When at the checkout counter, a Cardholder will pay for their goods and/or services – paying all applicable taxes.
2. He/she will present their PSEC. The retailer will swipe their card and a percentage of their purchase will be applied to reduce their property tax bill or applied to a Rebate check. The merchant has predetermined how much credit that its establishment is willing to give to cardholders for shopping at their business.
3. Administrator collects the cash reward from the merchant and deposits it in a City dedicated bank account.
4. Yearly, the funds are transferred to the City along with a payment file (same system used by mortgage companies when paying property taxes on behalf of their borrowers).
5. The credit is posted on the homeowner’s tax bill.
6. Renters, non-residents, and visitors do not pay property taxes. They’ll receive a rebate check from the Administrator.
I Rent My Home - Can I Benefit from the Program?
YES! When you register your card, check the Renters box and provide your information. The Renters option will appear in the registration form. A rebate check for the total credits that you have accrued will be mailed to you yearly.
What is an Example of a 10% Discount?
The cost of a dinner for four at a restaurant participating in the PSEC program with a 10% property tax reward on $200. When paying for the check (either cash or credit), the person will also present their PSEC card.
The card is then swiped and a $20 property tax credit is generated. Rewards will be credited to a person’s annual property tax bill.
Can I Obtain and Register Multiple Cards?
Yes! You can register as many cards as you need. If for example your household includes four shoppers, you may obtain four cards and register them all under the same address and block and lot number. Therefore your property tax bill will be credited every time any of the four cards is used.
Finally, if you do not have your card with you at time of purchase, the merchant will be able to process your credit using your registered phone number.