Bridgeville Borough Council lowered its property tax millage rate on Monday night due to the Allegheny County real estate reassessment.
Council voted unanimously to lower the tax rate from 6.75 mills to 5.5 mills. That means a property owner with a home assessed at $100,000 in 2013 would pay $550 a year in municipal taxes.
The borough decided that any windfall revenue above the 5 percent increase allowed by law would be funneled into sewer line improvement projects.
And it appears the borough will be reaping a very large increase in revenue. According to the most current reassessment figures in December 2012, the borough’s overall assessment went up more than 37 percent.
Calculating revenue collection history and the 5 percent permitted increase, the millage rate should be closer to 5 mills. Many communities have struggled to calculate a new tax rate because of commercial property appeals and concerns about coming up short on revenue.
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They are permitted to gain a 5% increase in tax revenue, and I have a hard time seeing how this won't blow that increase out of the water.