PV business manager provides past years' tax rates snapshot
As the Panther Valley school board's Budget and Finance Committee worked on Tuesday to find more ways to cut costs in the face of looming tax increases, business manager Kenneth R. Marx Jr. offered a snapshot of tax rates over the preceding years.
The school district includes the Carbon County boroughs of Lansford, Summit Hill, and Nesquehoning, and the borough of Coaldale in Schuylkill County.
Since 2008-2009, the tax rates have increased by less than a half-mill per year. On the Carbon County side, it has risen from 53.710 mills to 55.690. On the Coaldale side, the rate has risen from 50.290 mills to 52.240.
As of now, the proposed increase for 2013-2014 would put the rates at 57.730 in Carbon and 53.910 in Coaldale.
The median assessed value of a property in Carbon County is $18,850, meaning the owner would pay $38.45 more this year. In Coaldale, the median assessed value of a property is $16,830, meaning the owner would pay an additional $28.11.
Each mill generates about $161,000, provided everyone pays their taxes. However, at the usual 88 percent collection rate, each mill generates only $142,000.