Real Estate Taxes
Property tax rates in 2011-12 were set by the school board at 65.0000 mills. A mill is $1 of tax for every $1,000 of a property's assessed value. Irregular property reassessments have become a serious issue in the commonwealth as it creates a significant disparity in taxation within a community and across a region. Property taxes, in the Commonwealth of Pennsylvania, apply only to real estate - land and buildings. The property tax is not levied on cars, business inventory, or other personal property. Certain types of property are exempt from property taxes including: places of worship, places of burial, private social clubs, charitable and educational institutions and government property. Additionally, service related, disabled US military veterans may seek an exemption from paying property taxes. Pennsylvania school district revenues are dominated by two main sources: 1) Property tax collections, which account for the vast majority (between 75-85%) of local revenues; and 2) Act 511 tax collections, which are around 15% of revenues for school districts. When the school district includes municipalities in two counties, each of which has different rates of property tax assessment, a state board equalization adjusts the tax rates between the counties. In 2010, miscalculations by the board were widespread in the Commonwealth and adversely impacted funding for many school districts including those that did not cross county boarders.
- 2010-11 - 63.9000 mills
- 2009-10 - 61.7000 mills.
- 2008-09 - 61.7000 mills.
- 2007-08 - 59.4000 mills.
- 2006-07 - 57.0000 mills.
Read more about this topic: Beaver Area School District, Budget
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