No tax hike planned for Pine-Richland
Friday, June 7, 2019 | 12:01 AM
The Pine-Richland School Board approved the budget for the upcoming school year, and, for the second year in a row, it does not include a tax increase.
The budget for 2019-20 is set for total expenditures of $91,457,895 and total revenues of $91,457,895 with no need to tap the fund balance or change to any of the current assessment rates.
The real estate tax will remain at 19.5867 mills, earned income tax at 0.5 percent, the Act 511 per capita tax at $5 for individuals 18 and older, and the Pennsylvania school code per capita tax of $5 for those 18 and older.
The board also approved the 2019 Homestead and Farmstead Exclusion for a reduction in real estate tax assessments for approved homesteads and farmsteads for a maximum qualified taxpayer savings of $179.53.
The last budget hike was a nearly 2-percent increase for the 2017-18 school year after holding steady since 2014-15. Under the 19.6 mills, a home assessed at $200,000 will pay approximately $3,900 in property taxes. The budget two years ago was set at $84,079.405.