Rose Tree Media hikes taxes 2.4 percent in new budget

Rose Tree Media hikes taxes 2.4 percent in new budget
Choosing an increase equal to its Act 1 index, the Rose Tree Media School Board voted to adopt a 2016-2017 final budget of $93 million and corresponding tax hike of 2.4 percent. Taxpayers in the Rose Tree Media School District will see their taxes rise an average of $129 this year. Based on the average assessment of $207,330 for homes within the district, the typical tax bill will be $5,054, or an additional $129. Revenue will also be provided by a one half of 1 percent real estate transfer tax, $5 per capita tax and $10 local services tax. The directors also approved an assessment reduction for the homestead exclusion, providing a $218 property tax reduction for those who qualify. The final budget represents a 3.06-percent increase over the previous year. The majority of the hike is due to the rising costs of health care benefits and increase in the retirement rate from 25.8 percent to 30 percent, which equates to an additional 24 percent in retirement expenditures.
Source: Daily Times; 7/8/2016

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