Real Estate Taxes
In 2011, the Neshaminy School Board set the property taxes rate at 152.0000 mills for the 2011-12 school year. A mill is $1 of tax for every $1,000 of a property's assessed value. 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. 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. 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.
- 2010-11 - 152.0000 mills
- 2009-10 - 152.0000 mills.
- 2008-09 - 148.6000 mills.
- 2007-08 - 142.3000 mills.
Read more about this topic: Neshaminy School District
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