Plum Millage Rate Expected to Decrease
The borough's certified reassessment numbers indicate a 20 percent increase.
Plum Borough's real estate tax millage most likely will decrease this year.
On Monday, borough Manager Mike Thomas announced that officials had received certified reassessment figures from the county, which indicated that property values in Plum increased 20 percent.
The millage rate would have to decrease in order to offset the increase property values stemming from the county's reassessment. Under the reassessment, taxing bodies can't receive more than 5 percent in property tax revenue so as not to use the reassessment as a major tax increase.
With the current millage rate of 4.3, residents pay $430 for every $100,000 of assessed property value.
Thomas said he is expecting a decrease of about a half-mill—3.7 mills, where residents would pay $370 for every $100,000 of assessed property value.
Thomas said that while the millage rate would decrease some residents who received a much higer property assessment might actually pay more in taxes. Some also might pay less, he said.
Council still has time to officially reduce the millage rate. Thomas said he wants to wait because several reassessment appeals are being heard and processed.