Bucks County commissioners got their first look at the $471.3 million proposed budget for 2012 – and it includes a $24.2 million budget deficit. If the county did nothing else but raise taxes to balance the budget, a tax increase of 13.7 percent would be necessary. The current tax rate of 21.942 mills would need to increase 3 mills, resulting in a tax increase of approximately $108 on the average home assessed at $35,800 in the county. The county can only use about $4 million of its budget surplus in order to maintain the 10 percent rainy day fund that bond rating agencies require. A public budget meeting is scheduled for Dec. 6 at 6 p.m. in the first floor community room of the Bucks County Courthouse in Doylestown. The budget is scheduled to be finalized on Dec. 21. Click here to visit the Bucks County website.
Source: The Intelligencer; 11/28/2011
Bristol Township eyes $31 tax increase
The proposed 2012 Bristol Township budget includes a 1.75 mill property tax increase, or an additional $31 on the average home assessed at $17,877 for a total bill of $429. Revenue from the proposed tax increase would be combined with $716,000 of a projected $2.4 million year-end reserve in order to balance the budget. The township finance officer cautioned council members not to continue to rely on the reserve fund because soon there will be nothing left. Visit www.bristoltownship.org to view the proposed budget and upcoming meeting schedule.
Source: Courier Times; 11/30/2011
Quakertown budget includes 20 percent sewer rate hike
Quakertown Borough Council unveiled a preliminary budget for next year that calls for a 20 percent increase in sewer rates and an 18 percent increase in water rates. A home that uses 5,000 gallons of water per month would see a combined water/sewer rate increase of about $8 per month. There are no property tax or electric rate increases included in the proposed budget. Property taxes would remain at 1.625 mills, which amounts to a property tax bill of $52 on the average home assessed at $32,000. The final budget is scheduled for adoption on Dec. 7.
Penndel taxes up
The Penndel Borough preliminary budget proposes a tax increase of about $40 for the average home in the borough, bringing the total average real estate tax bill to $371. If approved, the tax millage will rise from 12.5 to 14, with one mill being equal to $1 of tax for each $1,000 in assessed property value. Penndel Borough raised taxes approximately $53 for the average homeowner in 2011 and held off a tax increase in 2010 through budget cuts and the use of reserve funds.
Source: Courier Times; 11/29/2011
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