Do we know our Total Tax Increase?

It is that time of season again; as the various townships and school boards are finalize their 2008 budgets.

Everything Forks started to wonder what is the total impact of the various tax increases on our residents. So here is our best estimate:

Forks Township Tax Increase:

1. An 11% increase in Real Estate taxes (4.6 mills to 5.1 mills). The owner of a property of $50,000 will pay about $255 in additional real estate tax.

EASD Tax Increase:

1. A 10.87% increase in school taxes (45.106 mills to 50.006 mills). A house assessed at $100,000 would generate a $5,000.60 tax bill under the preliminary budget, a $490.10 increase from last year.

Total Tax Increase:

Note: A mill is $1 of tax on every $1,000 of assessed property value

If we use the value of the property of $100,000, we would have the following total tax increases.
1. Forks Township: $510 per year.
2. EASD: $490.10 per year
3. Total tax increase: $1000.10 per year.

Yikes! This is a pretty hefty tax increase for 2008.

Other approved changes in our tax code:

1. Ordinance 306 - Local Services Tax / Adoption. Effectively it is a name change from the EMS Tax to the Local Services Tax. The amount remains the same at $52 per year for employees working in the Township.

2. Ordinance 307 - Realty Transfer Tax - This ordinance is to authorize the PA Department of Revenue to collect Forks' share of the Realty Transfer Tax (RTT) in instances when the State finds that the value of property has been misrepresented. The 2% RTT is shared as follows: 1/2 goes to the State, and the other half is split evenly between the school district and the local municipality.

If you have any ideas or comments about critical issues facing Forks Township, please share your ideas via our blog.

Get Involved – Every Voice Counts!

Sincerely,

David Billings